MONTREAL, June 10, 2020 – TickSmith, the global leader in data management and analytics solutions, today announced that it has won the Best Software Solution for FRTB in the 2020 RegTech Insights Awards presented by the A-team. TickSmith’s GOLD Platform– an acronym for gather, organize, leverage and distribute– is a robust end-to-end solution optimized for the cloud. The GOLD Platform is highly scalable, built on open-source technologies, and is crucial for the capital markets’ data-driven world.
TickSmith’s Data Pooling Solution for FRTB, which sits on GOLD, anonymously pools data from multiple firms. The platform pools private OTC data such as bonds, interest rate swaps, and mortgage backed securities trades in order to lower capital risks and build new revenue streams.
“We are honored to be recognized for this award and more importantly to see the importance of our software solution in the real world, especially in these times of global market volatility. Our Data Pooling platform for FRTB is truly available as an out-of-the-box solution, processing data at scale to ensure another financial crisis does not occur,” says TickSmith’s Global Head of Sales & Senior Vice President, Neasa Nic Dhónaill.
The solution is currently being used by CanDeal Data and Analytics (“DNA”), the data services division of CanDeal, a leading Canadian provider of financial marketplaces. As a result of its new data pooling platform, six Canadian banks are seeing dramatic increases in modellable instruments under the new Fundamental Review of the Trading Book (FRTB) rules.
Andre Craig, Head of CanDeal DNA says, “It made a lot of sense to leverage TickSmith GOLD rather than build something new. The regulatory capital savings could be in the billions of dollars, so that makes the banks more efficient, and delivers meaningful cost savings.”
Born from the need to make data usable at scale, TickSmith’s GOLD Platform simplifies data pipelines and has four pre-packaged solutions sitting on top of it: Internal Data Distribution, Data Monetization, Analytics (TCA), and Data Pooling (FRTB). TickSmith’s customers include well known banks and exchanges such as CME Group and National Bank, amongst others.