Transformation and Technology
IBOR transition requires sometimes extensive alterations to internal technology platforms. CRISIL is helping our clients re-design and adjust their technology infrastructure to meet transition requirements.
Front Office and Risk Infrastructure
- Front-to-back impact analysis, integration & testing covering the entire trade life cycle
- Data and technology transformation projects across pricing, risk and collateral systems
- APIs & external connectivity to consume broker/exchange data for new market data referencing RFRs
- Changes to Curve Marking, and Building tools for Front Office
- Time series suite readiness for proxy & backfill gaps using statistical techniques
- Application testing for RFR sensitivities
Middle Office Change
- Impact Analysis of finance system and necessary upgrades of P&L attributes and IPV process
- Determination of pricing preferences and assessment of price information from multiple sources
- Readiness of FTP framework with base rates migration by attributing to individual funding spread components
- Re-validation of new basis and options risk
- Changes to treasury systems, cash management systems
- Collateral systems changes due to embracing of RFR as PAI and exposure management
Back Office Change and Contract Management
- Upstream and downstream systems integration
- Automated and manual analysis of contract language, including fallback language for IBOR contracts
- Re-papering trades referencing IBOR products using NLP and AI/ML solutions
- Standardized contract templates and automated rules for data quality checks
- Upgraded settlement systems to capture the correct clearing amount and avoid discrepancies with counterparties
- Centralization of contract management system
Questions?
For more information or advice about CRISIL’s dedicated LIBOR transition team and capabilities, please reach out to us at Sunvik.Chandan@crisil.com