Bloomberg Wins Best Data Solution for FRTB at RegTech Insight Awards USA 2022

Bloomberg has won Best Data Solution for FRTB at the A-Team RegTech Insight Awards USA 2022. These awards recognize established data providers that have successfully improved firms’ ability to efficiently respond to complex financial regulatory requirements.

Bloomberg’s suite of regulatory data solutions has nearly doubled in two years with 60 regulatory products covering more than 90 regulations globally. These solutions have been designed to streamline risk, compliance and reporting requirements so firms can comply with confidence. This approach is especially prevalent in Bloomberg’s FRTB offering, which was created to help ease the burden of FRTB implementation and facilitate ongoing compliance.

“Bloomberg’s regulatory data solutions, including our FRTB data offering, was built to help our customers take a strategic approach to how they acquire and manage their data in order to take advantage of available efficiencies, reduce operational risks and gain insights that benefit their business beyond regulation,” said Brad Foster, Head of Enterprise Data Content at Bloomberg. “We’re honored to have our FRTB data solutions recognized with this award.”

FRTB requires banks to adopt a rigorous approach to how they source, manage and use their market data to ensure alignment across the front office, middle and back office including risk and finance functions. Bloomberg’s comprehensive FRTB data solutions and risk analytics help banks calculate and report regulatory capital under the Standardized Approach (SA) and the Internal Models Approach (IMA).

Via Bloomberg’s enterprise data feed, banks can seamlessly feed multiple systems from the same data source, which provides a reliable frame of reference and data consistency that FRTB requires. Capabilities span FRTB SA Bucketing Data, Risk Factor Eligibility test (RFET) data, pricing data, reference data, and historical data. Bloomberg’s FRTB data solutions also provide classifications based on rules from different global jurisdictions, simplifying a traditionally laborious process for banks. 

In addition to these data solutions, banks globally are using Bloomberg’s MARS Market Risk product to calculate FRTB analytics, as well as FRTB SA capital. Powered by Bloomberg’s award-winning FRTB data, as well as our pricing engines, MARS Market Risk provides full market coverage and flexible workflows, enabling banks to outsource FRTB calculations either for individual desks, asset classes, and businesses, or for their entire FRTB workflow.  

“Congratulations to Bloomberg for winning the Best Data Solution for FRTB award in this year’s A-Team Group RegTech Insight Awards USA 2022. These awards celebrate providers of leading RegTech solutions, services and consultancy across North America. The winners are selected by A-Team Group’s RegTech Insight community and demonstrate exceptional creativity in building solutions that solve regulatory challenges”, said Angela Wilbraham, CEO of A-Team Group.