Council of Europe Development Bank adopts Bloomberg MARS Front Office to streamline risk management

Bloomberg announced today that the Council of Europe Development Bank (CEB) has adopted its Multi-Asset Risk System, MARS Front Office, a robust and streamlined risk management system that enables the bank to assess the impact of trading activity on the risk profile of its books.

The CEB is a multilateral development bank that provides financing and technical expertise for projects that promote social cohesion and strengthen social integration in Europe. In addition to benefitting from the MARS Front Office consolidated pricing and risk analytics, including pre-trade and daily post-trade valuations, Greeks and scenario analysis, the CEB has also opted to utilise “PnL Explain” reports, a new functionality that helps firms understand fluctuations in market value and the contributions of the various underlying market factors.

“Streamlining our valuation and risk processes with MARS Front Office has helped us improve our risk monitoring. As a result, we’ve also been able to increase efficiencies, which allows us to better focus our efforts and resources,” said Grégoire Demoulin, Financial Risks Division at the Council of Europe Development Bank.

“To remain resilient, financial firms need timely, transparent and comprehensive risk analytics, as well as efficient coordination between front office and risk management teams, said Leila Sadiq, Global Head of Front Office Risk at Bloomberg. “MARS Front Office provides firms with the ability to immediately understand the impact of a trade on their risk profile, and thus to make better-informed decisions more systematically, reduce risks and improve their operations.”

The CEB is a long-standing customer of Bloomberg and also uses BVAL Derivatives, a pricing service that provides independent valuation for a wide range of derivatives from vanilla to complex, and MARS XVA for counterparty risk management.

Bloomberg’s suite of MARS risk solutions, which are delivered on the Bloomberg Terminal and via APIs, provide risk analytics for cash and derivatives securities. The suite helps traders, portfolio and risk managers manage front office risk, market risk, XVA counterparty risk, credit risk, hedge accounting, as well as collateral and SIMM requirements – all by using a common pricing and data library, providing consistency from front to back. MARS Front Office supports firms with intraday valuation and on-demand risk analytics, advanced scenario and stress test capabilities as well projected cashflows and “PnL Explain” reports. MARS Valuations provides credible and complete end-of-day market valuations for enterprise usage and reporting.

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About Council of Europe Development Bank

Set up in 1956, the CEB (Council of Europe Development Bank) has 42 member states. Twenty-two Central, Eastern and South Eastern European countries, forming the Bank’s target countries, are listed among the member states. As a major instrument of the policy of solidarity in Europe, the Bank finances social projects by making available resources raised in conditions reflecting the quality of its rating (Aa1 with Moody’s, outlook stable, AAA with Standard & Poor’s, outlook stable, AA+ with Fitch Ratings, outlook stable and AAA* with Scope Ratings, outlook stable). It thus grants loans to its member states, and to financial institutions and local authorities in its member states for the financing of projects in the social sector, in accordance with its Articles of Agreement.

Media Contacts
CEB
Jelica Vesic, jelica.vesic@coebank.org

Bloomberg
Anna Schoeffler, aschoeffler1@bloomberg.net, +33 6 75 54 70 92
Gauri Andriks, gandriks@bloomberg.net, +1 (212) 617-6361