Bloomberg Wins Best Solution for FRTB at RegTech Insight Awards USA 2023

Bloomberg has won Best Solution for FRTB (Fundamental Review of the Trading Book) at the A-Team RegTech Insight Awards USA 2023. Building on last year’s success when Bloomberg won Best Data Solution for FRTB, this win underscores Bloomberg’s continued dedication to enhancing firms’ ability to efficiently respond and adapt to complex financial regulatory requirements.

To help banks manage existing FRTB requirements and meet upcoming compliance deadlines, Bloomberg provides both enterprise data and analytical solutions. Whether firms require FRTB-ready regulatory data, a reliable risk analytics engine or a full end-to-end workflow, Bloomberg can customize a package to meet specific requirements across all major jurisdictions.

Bloomberg’s FRTB Data Solution provides scalable, enterprise access to high-quality, complete data that helps banks to automate risk management and regulatory reporting processes. Bloomberg provides the data that is necessary for the effective implementation of FRTB across both the Standard Approach (Bucketing of Risk Factors) and the Internal Model Approach (Risk Factor Eligibility Test).

“The FRTB data challenge is not an isolated exercise but a nexus of challenges,” said Thomas Labbe, Global Regulatory Product Manager at Bloomberg. “It is a place where regulation, risk, data, technology, and governance intersect. Updating technology stacks, ensuring alignment between different groups within the bank, and sourcing high quality data are all part of the same journey. We’re honored to have our solution recognized for the second year in a row and look forward to supporting our clients as they navigate FRTB compliance.”

Bloomberg’s Multi-Asset Risk System (MARS) Market Risk solution offers a configurable suite of risk analytics and calculations for the entire FRTB workflow. The solution provides banks with the necessary tools to accurately model multi-asset portfolios and meet regulatory risk management and reporting needs.

“With the complexities of FRTB regulation, it is imperative for banks to have a solution that is comprehensive but can also address individual needs,” said Eugene Stern, Head of Market Risk at Bloomberg. “This award reflects our ongoing resolve to meet clients where they are and provide robust, reliable analytics to streamline processes and minimize operational risks in their workflow.”

To learn more about FRTB, view our recent webinar, FRTB – the Final Countdown, read our FRTB blog series, or visit our website here.