News

Regularly updated information on Verasis products and systems and related industry topics.

Interest Rate Basis Spread module completed

Verasis Risk has been enhanced as follows:

  • Basis Spread is incorporated into the existing functionality (Mark to market valuations)
  • A Basis Spread Risk module allows users to calculate, report and stress test Basis Risk

The Verasis Risk Yield Curve functionality has been enhanced to allow users to define curves that incorporate Basis Spread and that can be associated to refix rate codes.

Automated Archiving module commences beta testing

The Automated Archiving and Recovery module has been completed and fully integrated into Verasis Risk 3.0.

The Archiving functionality of the module allows users to perform both ad hoc and scheduled archiving of Trade/Cash Flow and Market data.

The Recovery functionality of the module allows users to recover archived Trade/Cash Flow and Market data.

Corporate Deposits 2.0 goes live at multiple sites in a European Bank

Phase 2 of the Verasis Corporate Deposits application has gone live supporting over 10,000 accounts in the MISYS OPICS Call & Notice module at multiple sites in a European Bank.

The Verasis Corporate Deposits application provides an intuitive, fluid, and business process based Dash Board that overlays and utilises the standard Core functionality of the MISYS OPICS Call & Notice and Deposit & Loans modules.

The Verasis Corporate Deposits application has been developed in OPICS Architecture.

Corporate Deposits 1.0 goes live at a European Bank

Phase 1 of the Verasis Corporate Deposits Dash Board Application has gone live at a European Bank.

The Verasis Corporate Deposits application provides an intuitive, fluid, and business process based Dash Board that overlays and utilises the standard Core functionality of the MISYS OPICS Call & Notice and Deposit & Loans modules.

The Verasis Corporate Deposits application has been developed in OPICS Architecture.

Development of Credit module

Development of Version 2 of the Verasis Risk Credit Risk module has commenced and is scheduled for release in Q1 2008. This satisfies the Capital Requirements Directive and will help financial organisations comply under pillar 3 of the Basel Accord.

The module supports a full IRB (Internal Rating Basis) for Capital Calculations, combining internal weightings and score cards to facilitate PD (probability of default) calculations.

The module incorporates the ability to define multiple forward date valuation points and combine them with stress and historic market data scenarios. This enables it to perform LGD (loss given default) and EAD (exposure at default) calculations across multiple asset classes.

FRONT ARENA interface goes live at AIBC Dublin

The Verasis Risk/FRONT ARENA trades interface has gone live at Anglo Irish Banking Corporation in Dublin. The interface resides in Verasis Risk, capturing and emulating trades, as well as positions and reference data maintained in FRONT ARENA.

Liquidity module commences beta testing

Version 1 of the Verasis Risk Liquidity Risk module has been released. This incorporates functionality to facilitate both internal and external regulatory liquidity management and reporting. The regulatory liquidity reports defined and prescribed by Rialtóir Airgeadais (Irish Financial Regulator) have been integrated and are fully supported.

SunGard FRONT ARENA interface

SunGard’s FRONT ARENA is the latest third-party system to interface with Verasis Risk. This enables the following trade and transaction types:

  • Interest Rate Swaps (fixed vs float)
  • Cross Currency Swaps
  • Basis Swaps
  • Zero Coupon Bonds
  • Interest Bearing Deposits
  • Cap/Floors
  • Swaptions
Liquidity module in development

The Verasis 2.2 Liquidity module incorporates the regulatory structure of the Central Bank of Ireland. It produces both trader-orientated liquidity numbers and the hard-copy regulator template for liquidity reporting.

Scenario-based calculations allow the inclusion of various credit spreads, as well as the input of haircuts. Additional benefits include increased awareness and understanding of Asset and Liability behaviour patterns, through enhanced activity monitoring. Enhanced cash flow management also facilitates synergy savings for staff and more efficient daily liquidity management.

Verasis Risk 2.2 goes live at AIBC

AIBC has now successfully upgraded to Verasis Risk 2.2. This gives the bank enhanced VaR and Sensitivity Stress Testing. It also provides Asset and Liability Management functionality, using multiple market data sources across wholesale and retail asset and liability classes.

Fergal Mullin (AIBC Group Risk) says:

‘The project and upgrade to version 2.2 of Verasis Risk provides the bank with significant gains in both functionality and speed.
‘The speed enhancements delivered in version 2.2 make intra-day full historical simulation VaR possible.

‘Version 2.2 also provides us with a broader set of tools with which to regulate, stress and appraise the Treasury area of the bank.

‘The speed and success of the upgrade project represents the culmination of an enormous effort from the AIBC Treasury Risk/ALM and Verasis teams. The speed with which the system can be validated is greatly enhanced by:’

  • The configurable “logging” function, allowing the publication of full valuation detail
  • Use of standardised FINCAD objects that can be validated in isolation via FINCAD XL
  • Verasis’ open approach to both data and business processes
Verasis Risk 2.2 provides the following upgraded functions and benefits:
  • Valuation Engine: improved architecture, giving speed and efficiency gains
  • Supports multi-threading, leading to improved performance
  • ALM module: retail and treasury analysis and reconciliation
  • Cash flow profiles, allowing specific selections for processing
  • Back-testing improvements: fully automated process for justifying VaR model selection and corresponding VaR results
  • Sensitivity module: enhanced detection of shifts in FX rates and volatilities for FX, Caps and Floors, and Swaptions
  • Multi-entity processing
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If you would like more general information on Veratec or Verasis, please contact us on +44 (0)20 7375 1000, or email us at info@verasis.com.

Veratec Ltd does NOT claim any ownership of FRONT ARENA. FRONT ARENA is the property of the SunGard Data Systems Inc group of companies. Veratec Ltd is not linked to or endorsed by SunGard Data Systems Inc. Nothing on this website shall grant or purports to grant any rights in or licences to use FRONT ARENA.

Veratec Ltd does NOT claim any ownership of OPICS. OPICS is the property of members of the Misys plc group of companies. Veratec Ltd is not linked to or endorsed by Misys plc. Nothing on this website shall grant or purports to grant any rights in or licences to use OPICS.

Veratec Ltd does NOT claim any ownership of TEMENOS T24. TEMENOS T24 is the property of members of the TEMENOS group of companies. Veratec Ltd is not linked to or endorsed by TEMENOS. Nothing on this website shall grant or purports to grant any rights in or licences to use TEMENOS T24.