Xenomorph has signed a five-year agreement with asset servicing department at Société Générale Securities Services (SGSS), and has already integrated Xenomorph’s TimeScape as its production data management system for its derivatives operations support service and high added value services such as independent valuation of structured derivatives and risk management.
The asset servicing department use TimeScape to create a single, consistent and centralized source of all data used in the pricing of derivatives on behalf of their clients. TimeScape was selected in order to avoid the over-use of spreadsheets in managing complex and ever-changing derivatives data. As a result, this leading service provider is able to deliver a higher quality pricing service to its clients whilst at the same time offering rapid support for new asset classes and structured products.
During the successful six-month implementation of the project, SGSS and Xenomorph integrated TimeScape with Summit, SGSS’s front-to-back system for derivatives. Additionally, TimeScape’s extensive validation capabilities are used to control and cleanse multiple sources of market and instrument data for use by other downstream systems.
"Xenomorph’s TimeScape enables us to offer a higher quality service to our clients", said Rachid Lassoued and Philippe Rozental, Asset Servicing co-heads at SGSS. "TimeScape supports complex derivatives data and structures with ease, and delivers a level of data transparency to our quant staff that allows them to ensure an extremely high level of data quality"
"We have thoroughly enjoyed working with SGSS on its TimeScape project," said Brian Sentance, ceo, Xenomorph. "The growth of derivatives usage at buy-side institutions looks set to continue and we firmly believe that SGSS and Xenomorph have jointly delivered a derivatives data management platform that will lead to further success for SGSS Asset Servicing and its clients."