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Digital Subscriptions > The Hedge Fund Journal > Issue 132 – May 2018 > Societe Generale & Imagine Software

Societe Generale & Imagine Software

Implementing state-of-the-art real-time risk management for FCMs and clearing firms

COMMENTARY

PROFILE

Afew years ago, Societe Generale Prime Services (Societe Generale) started to hunt for a new risk system because “we put risk at the forefront of our policy and wanted to gold plate regulatory requirements. We did this by extending our scope from a product and a client perspective,” explains Didier Livio, Global Head of Prime Services Risk, who sits in New York.

Societe Generale had been using three systems: two external – one for intra-day risk and one for end-of-day risk – as well as another internal system for margin calculations. The bank had to coordinate managing and transferring data between three different systems, which became more demanding as Societe Generale’s clients are increasingly trading across asset classes, globally, and round the clock. “We wanted consistency between intraday and end of day P&L and risk metrics and across asset classes,” said Pascal Marciano, COO of Prime Services Risk. The full acquisition and integration of Newedge into Societe Generale in 2014 created a multi-asset-class platform for execution, trading, security lending, collateral management and financing, listed derivatives, OTC clearing, and FCM services. Risk systems need to match the scale and scope of the new structure and must also meet regulatory needs for real time (T+0) margining, reconciliations, margin calls, and collateral sweeps.

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