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Financial Risk Analytics wins Risk Markets Technology Awards for XVA calculation product and best use of machine learning

08 March 2022

We are pleased to announce that Financial Risk Analytics has won two awards in the 2022 Risk Markets Technology Awards, for XVA Calculation Product of the Year and Best Use of Machine Learning / AI. These accolades are testament to the breadth and depth of our XVA solution and our technological leadership.

Stuart Nield (Global Head of Product for Financial Risk Analytics) commented on the XVA calculation product of the year award, "We're delighted to win this award, which recognizes the team's dedication to continually improving our XVA product. We're very proud of helping our clients navigate the business challenges over the last year such as the transition to risk free rates, improved performance, and the new regulatory focus on CVA in Asia. Our XVA solution brings together three key success factors: (1) full coverage of valuation adjustments with their risks and pre-deal incremental value for fast decision making on the desk; (2) cloud based elastic compute to minimize calculation costs; and (3) out-of-the box integration with our client's data and/or our derivative and CDS data to fast-track onboarding and quickly deliver competitive advantage for customers. In combination, these capabilities make us unique in the market.

Risk commented "As well as quick calculations of XVAs and capital measures, IHS Markit's XVA system allows banks to focus on more complex issues, such as the incremental effects of trading activity and market moves on the portfolio and the portfolio's sensitivities to market risk factors. These capabilities enable banks to better balance the increasingly complex regulatory requirements, while making informed decisions on the trading desk - pre trade and in real time."

Commenting on the Best Use of Machine Learning / AI award, Allan Cowan (Global Head of Financial Engineering for Financial Risk Analytics) said, "We are honored to accept this award for the best use of machine learning. This is a testament to the excellent work of our research, financial engineering, and software engineering teams to push the boundaries of what is possible in a XVA engine. XVA engines are challenged by increasingly complex XVA measures such as MVA, which requires projection of trade level sensitivities, as well as the need for more valuations faster. We address these challenges by introducing pretrained DNN pricing functions into the system for fast and accurate compute of trade level valuations and sensitivities, giving our customers competitive advantage."

The Financial Risk Analytics division helps clients measure and manage market risk, counterparty credit risk and XVA for both the buy and sell side which allows clients to gain a business advantage by knowing the risks on deals before anyone else, as well as reduce their total cost of ownership of risk systems, whilst increasing performance.

IHS Markit provides industry-leading data, software and technology platforms and managed services to tackle some of the most difficult challenges in financial markets. We help our customers better understand complicated markets, reduce risk, operate more efficiently and comply with financial regulation.

This article was published by S&P Global Market Intelligence and not by S&P Global Ratings, which is a separately managed division of S&P Global.



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