Thomson Reuters Launches New Data Service to Help Clients Comply With Solvency II Requirements
New offering provides customers with access to key data sets needed to power risk mitigation, capital adequacy and disclosure tools and workflows
Thomson Reuters, the world's leading source of intelligent information for businesses and professionals, today announced the launch of a dedicated Solvency II Data Service available through Thomson Reuters DataScope Select. The solution is designed to help insurers, asset managers, fund administers and custodians meet capital adequacy and disclosure obligations under Solvency II.
Solvency II requirements are placing added pressure on institutions to have a deeper understanding of their current and future trading and investment risk exposure. Thomson Reuters Solvency II Data Service provides clients with the key data sets needed to power their capital adequacy, disclosure tools and workflows. The solution provides instrument and issuer classifications such as NACE and CIC needed for Solvency II assessments and disclosers, and is powered by Thomson Reuters Lipper database to provide a "look through approach" into the specific instruments held by funds.
Thomson Reuters Solvency II Data Service provides access to the identification codes required for mapping and reporting purposes in the Quantitative Report Templates (QRT), helping to reduce errors and streamline the generation of reports. The solution also simplifies the Minimum Capital Requirement (MCR) and Solvency Capital Requirement (SCR) by providing independent evaluated pricing with specific Solvency II attributes as well as benchmark curves with up to 120 years maturities, Last Liquidity Point (LLP) and Ultimate Forward Rate (UFR) to value assets and liabilities.
"As Solvency II requirements become increasingly complex and demanding, we continue to work closely with our clients to develop offerings to help them better meet their evolving regulatory and operational obligations," says Tim Lind, global head of Financial Regulation Solutions at Thomson Reuters. "The market's appetite for Solvency information continues to grow, driving the need for granular, transparent and accurate pricing and reference data. This new offering not only adds to Accelus Risk Manager, our risk management and Own Risk and Solvency Assessment –ORSA– risk modeling solution, but also builds on the growing portfolio of solutions that we have around FATCA, FRS, Financial Transaction Tax and Dodd Frank."
Thomson Reuters Solvency II Data Service is powered by Thomson Reuters DataScope, the strategic data delivery platform for non-streaming content globally. The platform is a full cross-asset offering with intelligently linked data for all Thomson Reuters DataScope content including Reference Data, Corporate Actions, Legal Entity Data, End-of-Day/Intra-Day pricing and Evaluated Pricing Services.For more information about this feed or DataScope, please visit http://www.prdcommunity.com/index.php/solutions/regulatory-data.
For further insight on Solvency II and how Pricing & Reference data can help with compliance, please click here for Thomson Reuters latest whitepaper, "Data: The Key to Unlocking Solvency II."