IBS Journal February 2016


Housing & Development Bank in Egypt opts for OneSumX


Egypt-based Housing and Development Bank (HDB) is implementing a suite of risk management and reporting products from Wolters Kluwer Financial Services. The new platform – OneSumX – will


cover risk, operational risk and regulatory reporting at HDB. Namely, the areas of risk support comprise asset liability manage- ment (ALM), liquidity, market risk and credit risk. The ALM component is based on Wolters Kluwer’s integrated data archi-


tecture, providing an enterprise-wide risk solution, says the vendor. ‘The solution enables balance sheet modelling, risk measurement, risk management and regulatory compliance,’ it explains. The market risk component will


provide ‘an integrated view of profit & loss and balance sheet, both from a risk and a business unit perspective’. The deal was won in a competitive


tender. The project will be carried out with the


assistance of the vendor’s local partner, Winter Partners Egypt, which also partici- pated in the bidding together with Wolters Kluwer. Fathy El Sebaei, Managing Director


and Chief Executive Officer of the bank, comments that the Wolters Kluwer/Winter Partners offering ‘was an appealing choice for us due to its strong reputation and track record in delivering superior software solutions’.


Tanya Andreasyan Markit buys DTCC’s LoanServ; ties up with Fenergo © Duisenberg, Wikimedia


bought from Options Computers. Deal- Hub counts 16 of the world’s top 20 FX banks, interdealer brokers, trading venues and asset managers among its customers.


• CoreOne Technologies and its four flagship products: RegOne, DeltaOne, VistaOne and PrimeOne. The deal was estimated to be worth £128 million.


•


Information Mosaic, a Dublin-based software provider for corporate actions and post trade securities processing.


Markit, a financial information services provider, has acquired DTCC’s LoanServ position reconciliation technology assets. US-based Depository Trust and


Clearing Corporation (DTCC) launched its LoanServ offering – a platform that gives syndicated loan agents and lenders a vital place to gather – back in 2008. Its major competitor is Euroclear, with its LoanReach service. According to Markit, around 400 asset


managers (representing approximately 6,000 funds in the syndicated loan market worldwide) use LoanServ’s Loan Position Reconcilement Service to reconcile over one million positions with the records maintained by administrative agent banks. Markit will integrate the acquired


product into its Markit Clear loan inventory platform. ‘The combination of the data from LoanServ with the real-time position data in Markit Clear will unify the experi-


ence for lenders and help them operate more efficiently by reducing the number of systems required to manage loan assets,’ says Scott Kostyra, MD and head of loan settlement in Markit’s processing division. Markit also promises to develop new cash settlement functionality in its loan trade settlement platforms. The LoanServ solution will continue to


be operated by DTCC (on behalf of Markit), until it is fully integrated into Markit’s processing division. The transaction closed on 21st January


2016. Its financial terms have not been dis- closed, but Markit states that no material impact of its financial results this year is anticipated as a result for this acquisition.


Markit hits the market The vendor has been on a shopping spree over the last year, snapping up: • Trade processing service DealHub,


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Working with Fenergo In other news, Markit’s joint venture with Genpact, kyc.com, has struck a ‘strategic relationship’ with Fenergo, a provider of client lifecycle management software for investment, corporate and private banks. The agreement brings together kyc.


com, Markit Counterparty Manager and Fenergo’s Regulatory Onboarding and Client Lifecycle Management products. KYC and counterparty data are cleansed and validated through Markit EDM’s integration layer and legal entity master to support firms to be ready to transact and meet KYC, tax, regulatory requirements and margin agreements. This data is then fed into Fenergo’s


Client Lifecycle Management for client onboarding and regulatory compliance. Client and counterparty data is enriched and pushed to downstream systems. Tanya Andreasyan


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