Innovations Support Schedule DB Updates for Derivatives, Solvency II Reporting, and More
BOISE, Idaho, Dec. 19, 2022 /PRNewswire/ — Clearwater Analytics (NYSE: CWAN), a leading provider of SaaS-based investment accounting, reporting, and analytics solutions, today announced that it delivered new product features and enhancements in the third quarter of 2022 to support the latest accounting and reporting standards, enrich asset class reporting, and enhance the user experience.
New features include enhanced support for:
- Schedule DB updates for derivatives
- Clearwater has made several updates to strengthen our Schedule DB regulatory reporting for derivatives including DB Part B section-1 (column 13) fair value calculation – futures, DB Part A potential exposure calculation – FX forwards and swaps, and DB Part B section-2 columns 11 and 13: transaction price and termination price.
- Solvency II reporting
- Clearwater included the expiration transaction type in four reports for Solvency II QRT (Quantitative Report Template) S.08.02 and Lloyd’s QAD/AAD 23 reports.
- Investments are subject to either the Counterparty Default Risk SCR charge or Market Concentration Risk SCR charge. Clearwater created several new reports for updated and accurate Solvency Capital Requirements (SCR) calculations.
- Overnight rate indexed structured securities
- Clearwater now supports overnight floating rate structured products and can calculate accrued interest and coupon predictions for structured products floating on overnight rate indexes, including Secured Overnight Financing Rate (SOFR), Sterling Overnight Interbank Average (SONIA), Euro Short Term Rate (ESTR), Swiss Average Rate Overnight (SARON), and Tokyo Overnight Average Rate (TONAR).
- Generic variable and fixed-to-variable bonds
- Clearwater added new capabilities to perform advanced market analytics. We now support greater calculations for variable and fixed-to-variable bonds, including market yield (yield-to-worst, yield-to-best, yield-to-maturity, current yield, yield-to-call, as applicable), convexity (modified, Macaulay, OAS, z-spread), duration (modified, Macaulay, dollar, key rate, OAS, z-spread), option adjusted spread, and z-spread.
- Zero-volatility spread (Z-spread) analytics
- Clearwater strengthened the scope of our market analytics support to include three new fields for zero-volatility spread (z-spread) analytics. These fields include z-spread, z-spread duration, and z-spread convexity. Clearwater currently provides coverage for z-spread analytics for 650,000-plus distinct securities held across hundreds of clients.
- Overrides of analytics data for preferred stocks and funds
- Clearwater enhanced the scope of our analytics offering to include more functionality. Clients can now include market analytics for equity assets (such as preferred stock and funds), and see these values reflected in the market analytics fields on Clearwater reports.
“On average, our clients reduce the time they spend on accounting and reporting by 75%. This stat alone speaks volumes about the value our platform delivers to our clients,” said Souvik Das, Chief Technology Officer at Clearwater Analytics. “We’re incredibly proud of the advanced functionality we delivered in the third quarter. Clearwater handles the hard work involved in regulatory reporting and analysis to make processes highly efficient for our clients across the globe.”
To learn more about Clearwater Analytics, speak to an expert today.
About Clearwater Analytics
Clearwater Analytics is a global industry-leading SaaS solution for automated investment data aggregation, reconciliation, accounting, compliance, risk, performance, and reporting. Each day, the Clearwater solution reports on more than $5.9 trillion in assets for clients that include leading insurers, asset managers, corporations, pension plans, governments, and nonprofit organizations – helping them make the most of their investment portfolio data with a world-class product and client-centric servicing. Investment professionals around the globe trust Clearwater to deliver timely, validated investment data and analytics. Additional information about Clearwater can be found at clearwateranalytics.com, LinkedIn, and Twitter.
SOURCE Clearwater Analytics