TFG platform picks up support from banks, brokers and hedge funds
Risk management tech firm TFG Financial Systems says it has won a string of new mandates.
A tier 1 bank, mini-prime broker and three hedge funds have signed up to use the firm’s services.
The company's flagship product, TFG Complete, covers trade capture, performance monitoring and risk management through to processing and fund accounting.
It also offers intra-day
insights like effective shortfall and portfolio ageing across asset classes,
which are required by the upcoming Basel Committee FRTB regulations - a complete overhaul of the way banks assess market risk in the trading book.
“The demand for real-time, multi-asset risk management is being driven by a
number of different factors, foremost among these being the need to reduce
costs and reduce data duplication,” said a company statement.
“In parallel with this,
both investors and regulators have increasingly high expectations which require
a significant improvement in capabilities.”
“Banks and hedge funds have been facing significant challenges since 2008,”
adds Barry Fenwick, chief executive of TFG Financial Systems.
“Regulators, investors and counterparties are demanding a much more real-time, flexible and granular degree of risk monitoring across organisations.
“The enterprise risk
model where risk is statically reported the following day primarily for capital
allocation is being seriously challenged in terms of its effectiveness and
adequacy.”
“We are seeing increased interest in risk solutions that can deliver new and
sophisticated measures of risk instantaneously to the users,” Fenwick, a former Wells Fargo and Barclays Capital executive, concluded.
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