Finastra and Uni Systems have extended their partnership to help financial institutions comply with the Basel Committee’s Fundamental Review of the Trading Book (FRTB) reporting requirements

IN BREIF:

- The FRTB is a comprehensive suite of rules proposed by the Basel Committee on Banking Supervision (BCBS) that capital banks must hold against market risk exposures

- It expands the current market risk framework to ensure that internal models used by banks to calculate capital requirements efficiently cover risks, and to simplify comparisons of risk-based capital ratios across banks

- Under the new agreement, Uni Systems can offer its customers Vector Risk’s Trading Book Market & Credit Risk Solution via Finastra’s FusionFabric.cloud and hosted on Microsoft Azure, for cloud-based automation of credit and market risk calculations in the trading book

What does this mean?

“Complying with regulations such as the FRTB is a big undertaking for banks, particularly when timeframes are tight and IT systems cannot support the necessary changes,” said Benoit Riquet, CPO, Treasury & Capital Markets at Finastra. “By partnering with Uni Systems and offering Vector Risk’s solution via our platform, more banks will benefit from ongoing upgrades and regulatory compliance, quickly, with reduced project risk and without the need for new IT infrastructure.”