Verasis Risk Online has been enhanced to provide the ability to produce credit adjusted valuations and risk metrics by applying appropriate credit spreads to individual trades
• Enhancement of the Verasis Cashflow Generator to allow the following attributes:
Credit Regional Index
Credit Rating
• Credit adjusted valuations for MTM and VaR

Verasis Risk Online has been enhanced to provide extended cashflow netting capability.
The functionality allows clients to get clarity and transparency with respect to the impact of netting agreements on both nominal and sensitivity credit measures.
Netting supports the following options:
• Counterparty
• Trade

Verasis Risk Online has been enhanced to allow clients to identify and mitigate some of the primary risks arising from imperfect hedge structures in positions/books by providing the following functionality:
• Support for Basis Spreads is incorporated into the existing functionality (Mark to market valuations)

Verasis Risk Online has been enhanced to provide the ability to manage and access CCR on an intra-day basis by combining:
• Online management of CCR limits
• The provision of VaR, Interest Rate Sensitivity and FX Sensitivity limits at a counterparty level
• Counterparty exposure limits at both absolute and concentration levels
The CCR functionality provides clients with the ability to view exposure at both the diversified (CVAR) and specific risk factor levels, allowing management of both the credit risk and the recovery resolution path.

Veratec, the established risk-management solution provider, announces the launch of its new web-based service: Verasis Risk Online.

This latest Verasis product has been developed specifically for small to mid-size banks and corporate treasury units. It uses the same powerful Verasis Risk platform previously only available to larger organisations. So while this innovative service may be relatively new, the software is already tried and tested.

Simply, Verasis Risk Online offers treasury and risk managers a fast, cost effective and affordable means of managing their market risk exposure. It enables them to reduce capital reserves and meet the market risk regulatory requirements of the FCA and the PRA, as well as the market risk and capital requirements of Basel and CRD4.

With a powerful toolbox of analytics, Verasis Risk Online ensures good practice within financial markets by integrating Value-at-Risk, Market Data Stress and Sensitivity, and flexible Mark-to-Market valuations into daily risk management requirements.

The service uses industry-standard market data. Trade data is uploaded by clients in Excel format, together with their required analysis parameters, such as interest rate and foreign exchange shift profiles, confidence levels and history period. Verasis Risk Online then delivers a variety of analyses by currency, portfolio and counterparty.

Veratec’s Managing Director John Tuite, said “We have been providing regulatory and risk-management solutions and consultancy to larger banks and financial institutions for many years and our Verasis Risk system is already proven in today’s challenging and volatile markets. It is this software system that provides the core of the Verasis Risk Online service.

“Delivering a range of analytics in this simple-to-use web-based service will enable us to provide these levels of sophistication to smaller organisations at a very competitive price. But cost is only one of the benefits. The service has no impact on existing in-house systems or IT infrastructure and it has minimal reliance on a client’s in-house IT team. It can be up and running in minutes and it’s maintained to keep pace with the evolving market requirements.

“This is an exciting time for Veratec – we already have two clients using this new online service and we look forward to working with many more now that we have publicly launched the service.”

Verasis Risk Online can be licensed on a monthly subscription basis. Market risk analyses are the first release of the service. Additional capabilities for Liquidity analysis and Counterparty Credit Risk will be available later in 2014.

Product Profile: Verasis Risk Online (PDF)