{"id":26768,"date":"2022-09-29T01:54:33","date_gmt":"2022-09-29T05:54:33","guid":{"rendered":"https:\/\/www.bloomberg.com\/company\/press\/hdfc-bank-adopts-bloomberg-mars-simm-to-comply-with-uncleared-margin-rules\/"},"modified":"2024-04-12T10:25:38","modified_gmt":"2024-04-12T14:25:38","slug":"hdfc-bank-adopts-bloomberg-mars-simm-to-comply-with-uncleared-margin-rules","status":"publish","type":"press","link":"https:\/\/www.bloomberg.com\/company\/press\/hdfc-bank-adopts-bloomberg-mars-simm-to-comply-with-uncleared-margin-rules\/","title":{"rendered":"HDFC Bank adopts Bloomberg MARS SIMM to comply with Uncleared Margin Rules"},"content":{"rendered":"
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Mumbai – Bloomberg today announced that HDFC Bank, India\u2019s largest private sector bank, has adopted the Bloomberg MARS SIMM solution to calculate initial margin requirements for non-centrally cleared derivatives and ensure compliance with the Uncleared Margin Rules (UMR). The Bank is already using Bloomberg’s Multi-Asset Risk System (MARS)<\/a> to support its transition to risk-free rates (RFR).<\/p>\n

This margin solution covers single-security, portfolio and collateral management workflows, supported by \u00a0a powerful suite of derivatives functionality on the Bloomberg Terminal, including Bloomberg\u2019s MARS . Bloomberg has implemented the SIMM methodology in line with ISDA SIMM Methodology guidelines.<\/p>\n

With the deadline of September 2022 for the \u2018Phase VI Uncleared Margin Rule\u2019 approaching, HDFC Bank will be able to utilize the Bloomberg SIMM solution to monitor the initial margin requirements effectively. MARS SIMM comes integrated with live market data and provides the end of day SIMM numbers, intra-day or pre-trade analytics and back-testing.<\/p>\n

In addition, Bloomberg recently announced the expansion of its \u00a0post-trade integration with Acadia to include pre-trade data. The integration between MARS SIMM and Acadia\u2019s IMEM (Initial Margin Exposure Manager) module for SIMM enables clients to run pre-trade analytics through MARS SIMM using Acadia\u2019s IMEM CRIF data capabilities.<\/p>\n

\u201cHDFC Bank has always been very proactive in ensuring regulatory compliance with the best possible solutions. Bloomberg\u2019s SIMM Solution with us provides access to margin calculations, legal entity and agreement data, inventory, reconciliations, risk analytics and other relevant information. The functionality and data integration capabilities will help maximize workflow efficiency and reduce operational and credit risk\u2019 said Bhaskar Panda, Executive \u00a0Vice President, Overseas Treasury, HDFC Bank.<\/p>\n

\u201cWe are focused on providing our clients with enhanced risk management tools and functionality through Bloomberg MARS that optimize their workflows, while helping them comply with regulatory requirements. Our award-winning SIMM solution seamlessly integrates with live market data to provide our clients with reliable margin analytics and ensure regulatory compliance\u201d, said Dharrini Bala Gadiyaram, Global Head of Risk Products, Bloomberg.<\/p>\n

MARS SIMM is accessed through Bloomberg\u2019s Multi Asset Risk System (MARS), a comprehensive suite of risk management solutions. MARS, which is delivered on the Bloomberg Terminal and via APIs, provides risk analytics for cash and derivatives securities, from vanilla to complex and cash structured products. Bloomberg Risk solutions cover all traders and portfolio managers\u2019 front-office needs across market risk, XVA, credit risk, collateral and SIMM among others, which are built on a common pricing library to provide consistency across client workflows.<\/p>\n

MARS SIMM is part of the Bloomberg\u2019s suite of Collateral Management solutions which was awarded, \u2018Best Collateral Management and Optimisation\u2019 product from Risk.net in 2020. Bloomberg was also awarded \u2018Best Pricing and Risk Analytics Provider\u2019 at the Structured Retail Products Asia-Pacific Awards in 2021. At the Risk Awards, 2022, Bloomberg won the \u2018Technology Vendor of the Year\u2019<\/p>\n

About HDFC Bank:
\nFor more information, please log on to www.hdfcbank.com<\/p>\n

About Bloomberg:
\nBloomberg is a global leader in business and financial information, delivering trusted data, news, and insights that bring transparency, efficiency, and fairness to markets. The company helps connect influential communities across the global financial ecosystem via reliable technology solutions that enable our customers to make more informed decisions and foster better collaboration. For more information, visit Bloomberg.com\/company or request a demo<\/a>.<\/p>\n

Media Contact:
\nAniruddha Ghosh
\naghosh102@bloomberg.net
\n+91 22 61203953<\/p>\n\n<\/div>\n\n\n<\/div>\n\n\t\t\n\t<\/div>\n<\/div>\n

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The Bank is already using Bloomberg’s Multi-Asset Risk System (MARS) to support its transition to risk-free rates [...]","protected":false},"featured_media":24728,"template":"","format":"standard","categories":[17],"press_tag":[110,79],"class_list":["post-26768","press","type-press","status-publish","format-standard","has-post-thumbnail","hentry","category-press-announcement","press_tag-bloomberg-professional-service","press_tag-press-announcements"],"yoast_head":"\nHDFC Bank adopts Bloomberg MARS SIMM to comply with Uncleared Margin Rules | Press | Bloomberg LP<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bloomberg.com\/company\/press\/hdfc-bank-adopts-bloomberg-mars-simm-to-comply-with-uncleared-margin-rules\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" 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