Press Releases - 2009
GlobeOp extends Risk product coverage, enhances independent daily risk reports
12 May 2009
LONDON, NEW YORK – 12 MAY 2009 – GlobeOp Financial Services (LSE:GO.) has extended its proprietary risk services, metrics and reports to provide more in-depth portfolio risk data to fund and risk managers, investors and managed accounts.
The latest suite of enhancements were primarily developed and implemented in response to specific fund client requirements and new market opportunities, and are now available as part of GlobeOp’s overall Risk services.
“Independent verification, timeliness, scale and customization are now the key risk reporting drivers for front office fund managers and investors alike,” said Tony Glickman, global head of GlobeOp Risk Services. “Increasingly, both fund managers and their investors are demanding that risk reports be produced from the same independently reconciled trade and position data the administrator uses to calculate the fund’s net asset value (NAV). These latest risk products and metrics increase a managers’ ability to independently confirm to investors that agreed investment style, risk profiles and limits are being adhered to, without revealing strategic trades or opportunities. Managed accounts benefit from independently-verified position and NAV-related risk data aggregated across all accounts into a single daily report. It’s a seamless integration between the fund’s official, independently-calculated books and records and its risk reporting and analytics.”
Extended product coverage spans a wide variety of complex instruments, including caps and floors on constant maturity, commodity, Fed funds, inflation and total return swaps; and options on single-name and index credit default swaps.
Risk analytics have also been significantly expanded. GoRisk® Report's Value-at-Risk (VaR) analytics now include the calculation and reporting of conditional, incremental and marginal VaR, using both historical and Monte Carlo simulation. Clients can report worst loss and expected shortfall measures for incremental VaR, and risk factor-based conditional and marginal VaR. Marginal and conditional VaR measures for volatility risk factors are also available.
GoRisk Report services include position and exposure reporting, pre-trade scenario analysis, customizable stress tests, and VaR calculations with flexible parameters. Risk services can be integrated into GlobeOp’s full-service fund administration or provided as a standalone service, including to managed accounts. Reports are delivered online daily and can be customized to specific manager or investor requirements. Users are able to drill down to position-level results, with managers determining the degree of investor access to data.
GlobeOp is listed on both the RiskTech 100 and FinTech 100. GlobeOp Risk Services provides 24-hour help desk support during the business week, supporting over 230 hedge fund and managed accounts.
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Notes to Editors—About GlobeOp Financial Services
GlobeOp Financial Services (LSE:GO.) is a leading, independent financial technology specialist providing automated, integrated middle-, back-office, administration and risk reporting services to hedge funds and asset management firms—including banks, insurance companies, mutual & pension funds and proprietary traders. Clients trading a wide range of asset classes and derivatives outsource to GlobeOp to reduce technology investments and operational risks, and to focus resources on asset generation and portfolio management. Established in 2000, GlobeOp today serves more than 180 clients worldwide, representing $91 billion in assets under administration (AuA). GlobeOp’s headquarters are in London and New York; offices are also located in Dublin, Ireland; George Town, Cayman Islands; Harrison and Yorktown Heights, NY and Hartford, CT, U.S.A.; and Mumbai (Bombay), India. Further information: www.globeop.com
© 2009 - GlobeOp Financial Services LLC (GlobeOp). All rights reserved. GlobeOp and the GlobeOp "G" are trade and service marks of GlobeOp and its affiliates
Media Contacts
GlobeOp Financial Services
Natalie Shamshoum
Team 660, Metia
+44 20 3100 3655
Natalie.Shamshoum@metia.com
Sheryl Lee
Metia
+1 917 320 6462
Sheryl.Lee@metia.com
Updated October 2009