Nationwide Insurance Furthers Commitment to Transparency in Investments, Goes Live with OpenLink in Five Months

Share Article

OpenLink’s Findur solution provides greater overall operational efficiency and controls via valuation support across multiple asset classes and real-time data for trade terms and pricing details.

Open Link Financial, Inc. (“OpenLink”), a leading provider of cross-asset trading, risk management and operations processing software announced today that Nationwide, an insurance and financial services company, went into live production with OpenLink’s Findur solution.

Findur is OpenLink’s fully integrated financial markets solution, offering a straight-through-processing (STP) environment that supports the entire transaction management lifecycle, covering a comprehensive list of asset classes. Nationwide sought a single, integrated trading system to manage, control, analyze and report their derivative instruments’ financial exposures and positions. Nationwide completed its installation, with the assistance of OpenLink staff, in less than five months.

Nationwide Investments, the asset management arm of the Nationwide family of companies, currently manages a portfolio of more than $61 Billion of diversified general account assets. It wanted an end-to-end technology solution to manage the inherent risk involved in its derivative positions. It was of significant importance that the solution provides transparency of data, specifically for trade terms and pricing details – throughout the trade lifecycle. The ability to leverage valuation and analytics support across multiple asset classes was also a key differentiator in Nationwide’s selection of OpenLink.

OpenLink’s EVP of Financial & Risk Solutions, Ken Knowles commented, “We are very pleased that OpenLink was selected as the vendor of choice to support Nationwide Investments’ efforts to manage and provide transparency into its portfolio. With its leading Trading and Risk management capabilities, our application provides the requisite tools to manage financial risks and an integrated solution to consolidate, automate, and streamline what was previously handled through legacy systems.”

“OpenLink’s comprehensive solutions simplify our investment management processes for derivatives and help us to achieve some new operational efficiencies,” said Al Miralles, Chief Financial Officer from Nationwide Investments. He added, “It also puts us in a better position to adapt to new requirements that will inevitably come from the recent Financial Reform bill.”

About Nationwide

Nationwide, based in Columbus, Ohio, is one of the largest and strongest diversified insurance and financial services organizations in the U.S. and is rated A+ by A.M. Best. The company provides a full range of personalized insurance and financial services, including auto insurance, motorcycle, boat, homeowners, life insurance, farm, commercial insurance, administrative services, annuities, mortgages, mutual funds, pensions, long-term savings plans and health and productivity services. For more information, visit http://www.nationwide.com.

Nationwide, Nationwide Bank, Nationwide Financial, the Nationwide Framemark and On Your Side are federally registered service marks of Nationwide Mutual Insurance Company.

About OpenLink

Founded in 1992, OpenLink is a provider of cross-asset trading, risk management, related operations processing and portfolio management software solutions for the financial services, commodity, and energy markets globally.

OpenLink’s client base of more than 350 customers worldwide includes 12 of the top 25 largest commodity and energy companies by market capitalization, eight of the largest financial institutions and 11 of the largest central banks, as well as major hedge funds, commodities companies and public utilities.
Headquartered on Long Island, New York and with offices in New York City, Houston, London, Berlin, Vienna, São Paulo, Sydney, Singapore, Moscow and Toronto, OpenLink has more than 900 employees worldwide.

###

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Judith Peterson
OpenLink
516-394-1274
Email >

Dan Simon
Cognito
646-395-6316
Email >
Visit website