Innovations Support Schedule DB Updates for
Derivatives, Solvency II Reporting, and More
BOISE,
Idaho, Dec. 19, 2022 /PRNewswire/ -- Clearwater
Analytics (NYSE: CWAN), a leading provider of SaaS-based investment
accounting, reporting, and analytics solutions, today announced
that it delivered new product features and enhancements in the
third quarter of 2022 to support the latest accounting and
reporting standards, enrich asset class reporting, and enhance the
user experience.
New features include enhanced support for:
- Schedule DB updates for derivatives
-
- Clearwater has made several
updates to strengthen our Schedule DB regulatory reporting for
derivatives including DB Part B section-1 (column 13) fair value
calculation – futures, DB Part A potential exposure calculation –
FX forwards and swaps, and DB Part B section-2 columns 11 and 13:
transaction price and termination price.
- Solvency II reporting
-
- Clearwater included the
expiration transaction type in four reports for Solvency II
QRT (Quantitative Report Template) S.08.02 and Lloyd's
QAD/AAD 23 reports.
- Investments are subject to either the Counterparty Default Risk
SCR charge or Market Concentration Risk SCR
charge. Clearwater created several new reports for
updated and accurate Solvency Capital Requirements (SCR)
calculations.
- Overnight rate indexed structured securities
-
- Clearwater now supports
overnight floating rate structured products and can calculate
accrued interest and coupon predictions for structured products
floating on overnight rate indexes, including Secured Overnight
Financing Rate (SOFR), Sterling Overnight Interbank Average
(SONIA), Euro Short Term Rate (ESTR), Swiss Average Rate Overnight
(SARON), and Tokyo Overnight Average Rate
(TONAR).
- Generic variable and fixed-to-variable bonds
-
- Clearwater added new
capabilities to perform advanced market analytics. We now support
greater calculations for variable and fixed-to-variable bonds,
including market yield (yield-to-worst, yield-to-best,
yield-to-maturity, current yield, yield-to-call, as applicable),
convexity (modified, Macaulay, OAS, z-spread), duration (modified,
Macaulay, dollar, key rate, OAS, z-spread), option adjusted spread,
and z-spread.
- Zero-volatility spread (Z-spread) analytics
-
- Clearwater strengthened
the scope of our market analytics support to include three new
fields for zero-volatility spread (z-spread) analytics. These
fields include z-spread, z-spread duration, and z-spread
convexity. Clearwater
currently provides coverage for z-spread
analytics for 650,000-plus distinct securities held across
hundreds of
clients.
- Overrides of analytics data for preferred stocks and
funds
-
- Clearwater enhanced the
scope of our analytics offering to include more
functionality. Clients can now include market analytics for
equity assets (such as preferred stock and funds), and see these
values reflected in the market analytics fields on Clearwater
reports.
"On average, our clients reduce the time they spend on
accounting and reporting by 75%. This stat alone speaks volumes
about the value our platform delivers to our clients," said
Souvik Das, Chief Technology Officer
at Clearwater Analytics. "We're incredibly proud of the advanced
functionality we delivered in the third quarter. Clearwater handles the hard work involved in
regulatory reporting and analysis to make processes highly
efficient for our clients across the globe."
To learn more about Clearwater Analytics, speak to an expert
today.
About Clearwater Analytics
Clearwater Analytics is a global industry-leading SaaS
solution for automated investment data aggregation, reconciliation,
accounting, compliance, risk, performance, and reporting. Each
day, the Clearwater solution
reports on more than $5.9 trillion in
assets for clients that include leading insurers, asset managers,
corporations, pension plans, governments, and nonprofit
organizations – helping them make the most of their investment
portfolio data with a world-class product and client-centric
servicing. Investment professionals around the globe trust
Clearwater to deliver timely,
validated investment data and analytics. Additional
information about Clearwater can
be found at clearwateranalytics.com,
LinkedIn, and
Twitter.
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SOURCE Clearwater Analytics