Bloomberg Wins Best FRTB Solution at Regulation Asia Awards for Excellence 2024

Hong Kong, Singapore – Bloomberg has won Best FRTB Solution at the Regulation Asia Awards for Excellence 2024, which recognizes innovative practices that utilize advanced data, analytics and risk modeling techniques to support financial institutions in the APAC region in accurately measuring and managing market risk in compliance with FRTB regulations. Bloomberg’s Sanction Data Solution has also been Highly Commended for Best PEPs & Sanctions Screening Solution by Regulation Asia.

Anchored by Regulation Asia’s editorial and research teams alongside distinguished industry participants serving as judges, the awards this year have attracted over 190 submissions— the highest amount compared to any previous year of the program.

Bloomberg provides customizable data and analytical solutions to help banks with FRTB compliance. As more jurisdictions approach their respective implementation deadlines, Bloomberg’s FRTB solutions enable banks to navigate the complexities of their specific requirements. This award acknowledges Bloomberg’s commitment to enhancing firms’ capacity to promptly respond to and adapt to intricate financial regulatory demands.

Eugene Stern, Head of MARS Market Risk at Bloomberg, said: “We are thrilled to receive recognition for our ongoing commitment to assisting Asian banks with FRTB compliance. With numerous jurisdictions either preparing to implement FRTB or already doing so, each region has their own capital rules and reporting obligations. The widespread adoption of Bloomberg’s solutions across Asia demonstrates that our flexible architecture, best of breed instrument analytics, and pre-integrated market data effectively address the diverse regulatory and reporting needs of major jurisdictions.”

Thomas Labbe, Bloomberg’s Global Regulatory Product Manager, said: “FRTB compliance requires a unique process 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 help our customers navigate the FRTB data challenge by providing interoperable regulatory, funds, pricing and reference data banks need to compute the impact of FRTB across the entirety of their portfolios and operations.”

Bloomberg’s Multi-Asset Risk System (MARS) Market Risk solution offers a suite of risk analytics and calculations for the entire FRTB workflow, with Bloomberg’s market-leading data and models at its core. The solution is componentized for banks that prefer to combine Bloomberg’s data, analytics, and other features with their own internal systems and processes.

Bloomberg’s FRTB Data Solution provides scalable, enterprise access to high-quality, complete data and helps banks to gain approval for their models while minimizing add-on capital charges. This solution covers both the Standard Approach (Bucketing of Risk Factors) and the Internal Model Approach (Risk Factor Eligibility Test) and is available via Data License for enterprise-wide use.

To learn more about Bloomberg’s FRTB solutions, visit our website here.

About Bloomberg

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