Press release: for immediate release
Xenomorph delivers derivatives data management for SGSS Asset Servicing
London, 15 October 2007
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 centralised 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.”
Notes to editors
About Xenomorph
Xenomorph delivers real-time analytics and data management solutions to the financial markets. Our TimeScape technology leverages our clients’ proprietary expertise, and in so doing enables faster time to market for new financial products, new risk techniques and new trading ideas.
Trading, research, risk, product control, IT and back-office staff use Xenomorph’s TimeScape cross-asset data management platform at investment banks, hedge funds and asset management institutions across the world’s main financial centres. Established in 1995, Xenomorph has offices in London and New York.
For more information on Xenomorph, our clients, services and solutions, please see www.xenomorph.com.
Xenomorph® and TimeScape™ are registered trademarks of Xenomorph Software Limited. Other product and company names herein may be trademarks of their respective owners.
About SGSS (Société Générale Securities Services)
Société Générale Securities Services offers a full range of securities services in:
- OTC derivatives and structured products pricing
- Middle-office outsourcing services
- Performance measurement and attribution
- Risk management
- Execution, clearing and settlement
- Global custody, trustee, transfer agent, fund administration
- Liquidity management
- Employee share plan and option management
Société Générale Securities Services currently ranks 3rd among securities custodians in Europe and 9th worldwide with EUR 2,580 billion* in assets under custody. Société Générale Securities Services provides valuations for 4,354 funds* representing assets under administration of EUR 405 billion*. Société Générale Securities Services ranks among the European leaders in stock option management, serving more than 400,000 beneficiaries.
Société Générale Securities Services employs 5,500 people* and has a presence on more than 30 financial marketplaces across Europe, the Americas, Africa and Asia.
Fitch ratings: ‘CU2+’ Global Custody – Paris, ‘TR2+’ Trustee - Paris
www.sg-securities-services.com
* at end of June 2007
For sales enquiries please contact:Brian Sentance |
For further press information and photography please contact:Rachel Hodgson at LEWIS, the PR agency |