McKay Hits 8.3 Milliseconds Roundtrip to Chicago
February 7, 2013
Nicolas Karonis has been recruited as managing director for the region. Initially based in Sydney, Karonis will be responsible for the growth of the business and the establishment of the Asian operations team to cover client support and project management during trading hours in the Asian time zone.
OpenLink: The supplier of Transaction Lifecycle Management (TLM) software announced today the launch of its European Market Infrastructure Regulation (EMIR) business intelligence product. An extension of OpenLink's CubeIntelligence portfolio, the EMIR Cube is being unveiled at E-world this week.
The new online analytical processing (OLAP) based “cube” offering provides an array of data understood in multiple dimensions. The technique provides financial institutions, energy firms and market participants a speedy and cost-effective way to comply with clearing and reporting requirements.
The OpenLink EMIR Cube offers firms the ability to:
• Generate the regulatory reports that firms must provide daily to trade repositories, including the 30-day moving average
• Calculate and record the sum of the absolute values of the notional outstanding portions of current sales
• View the EMIR values for the entire firm and also drill down, by internal firm structure (book), product, trade type and other categories into trade level detail if required
• Specify which trades, books or products are in scope of the regulations so users can filter on these criteria to calculate the EMIR values for the in-scope trades only
• Run “what ifs?” scenarios to see how the EMIR values would change in certain circumstances
“Using the sophisticated OLAP approach, the new cube provides industry-leading support for our clients for the EMIR rules,” commented David Priestley, founder of CubeLogic and Managing Director at OpenLink. “The new cube allows firms trading OTC derivatives in Europe to manage risk while remaining compliant and producing all the mandated reports and complex calculations in a timely and efficient manner.”