OpenLink Launches Compliance Solution Ahead of EU OTC Derivatives Regulations

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New offering ensures firms across all sectors meet European Market Infrastructure Regulation (EMIR) requirements

OpenLink Financial LLC (OpenLink), the global leader in Transaction Lifecycle Management (TLM) software, announced today the launch of its European Market Infrastructure Regulation (EMIR) business intelligence solution. An extension of OpenLink's CubeIntelligence portfolio, the EMIR Cube is being unveiled at E-world this week.

The new online analytical processing (OLAP) based cube offering provides financial institutions and organizations in other verticals, particularly energy firms, participating in bilateral over-the-counter (OTC) derivatives trading a speedy and cost-effective way to comply with the new clearing and reporting requirements.

“Helping our clients across all sectors comply with industry regulations has always been a priority for us,” said Dr. Mark Greene, CEO of OpenLink. “Firms are increasingly using derivatives to hedge and diversify their trading strategies to increase alpha and stay competitive. Our CubeIntelligence team has developed the OpenLink EMIR Cube to ensure clients continue to have access to the OTC market while remaining compliant with the new regulations set to come into force this year.”

The OpenLink EMIR Cube offers firms the ability to:

  • Generate the regulatory reports that firms must provide daily to trade repositories, including the 30-day moving average
  • Calculate and record the sum of the absolute values of the notional outstanding portions of current sales
  • View the EMIR values for the entire firm and also drill down, by internal firm structure (book), product, trade type and other categories into trade level detail if required
  • Specify which trades, books or products are in scope of the regulations so users can filter on these criteria to calculate the EMIR values for the in-scope trades only
  • Run “what ifs?” scenarios to see how the EMIR values would change in certain circumstances

“Using the sophisticated OLAP approach, the new cube provides industry-leading support for our clients for the EMIR rules,” commented David Priestley, founder of CubeLogic and Managing Director at OpenLink. “The new cube allows firms trading OTC derivatives in Europe to manage risk while remaining compliant and producing all the mandated reports and complex calculations in a timely and efficient manner.”

OpenLink launched CubeIntelligence following its acquisition of CubeLogic in August 2012.

OpenLink is exhibiting at the E-world Energy & Water conference in Essen, Germany, on Feb. 5-7, 2013, in Hall 3 at Stand # 3-426.

About OpenLink

Founded in 1992, OpenLink (http://www.openlink.com) is the global leader in transaction lifecycle management solutions for the commodity, energy and financial services industries. OpenLink’s products address portfolio management, trading, risk management, and operations processing for both financial and physical assets.

Owned by leading private equity investment firm Hellman & Friedman, OpenLink is a global software and services business that has grown both organically and through strategic acquisitions, to achieve revenues in excess of $300 million. The company serves over 500 clients, including 12 of the world's largest commodity and energy companies, 9 of the largest financial institutions, and 11 of the largest central banks. OpenLink has 1,300 employees in 12 global offices on five continents, with headquarters outside New York City and field offices in Houston, London, Berlin, Vienna, Toronto, Moscow, São Paulo, Singapore, Dubai, and Sydney.

OpenLink has received numerous industry awards and recognition, including citations as the industry leader by Gartner and first-in-class ranking by Energy Risk Magazine for Commodity/Energy Trading and Risk Management (C/ETRM) systems.

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Judith Peterson
OpenLink
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