Our client, a Tier-1 US bank, commissioned an investigation of the current practices employed across the banking industry regarding the governance and risk management processes for e-Trading algorithms (algos) that incorporate a model component (or feeder).
The obligations and definitions for model risk management set out in the Fed’s SR11-7 have caused a high level of confusion in US institutions active in the algorithmic (algo) space. The definition of a model, in particular, is so broad that in some circumstances it may cover not only quantitative financial models but also algorithmic trading tools and components.
From the mid-1980s to the mid-1990s, corporate and investment banks were a tremendous engine of technology innovation.
Banks are one of the greatest engines for generating data: daily, they collectively produce petabytes of transactions, prices, risk metrics, customer information….
The one area where digitalisation within the corporate and investment banking industry has been taking place for the longest is within the realm of e-commerce.
A digitalised corporate and investment bank is erected on four distinct and complementary pillars.
“Corporate culture” refers to the beliefs and norms that determine how a company’s employees and management behave when conducting business interactions and transactions.
A decade after the financial crisis, the buyside (asset managers, hedge funds, institutional investors and large corporates) have changed at least as much as the investments banks that serve them.
Over the past decade, both the environment in which CIBs operate and the rules that they need to abide by have drastically changed.
What originally started as ‘electronification’ – the automation of external-facing, front-office processes and workflows – has become much more pervasive, and it now encompasses the entire value-chain.
The client, a global asset manager, requested GreySpark to assess, design and implement a program to deliver MiFID II compliance in time for the January 3rd 2018 deadline.
The client, a global wealth management firm, requested GreySpark assess, design and implement a program to deliver MiFiD II compliance in time for the January 3rd 2018 deadline.
