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Sep 03 2012

Sapient Global Markets Enables Investors to Meet European Central Bank Loan-Level Data Reporting Responsibilities

 

Combination of Services helps Clients Report Loan-Level Performance Data for European Structured Finance Assets



BOSTON, MA – 04 September, 2012 – Sapient Global Markets, part of Sapient (NASDAQ: SAPE), has today announced a new combination of services aimed specifically at helping companies meet requirements for communicating loan-level performance data to the European DataWarehouse under the European Central Bank’s (ECB) ABS loan-level initiative. Under the new initiative, loan-level performance data will eventually be required for any assets being used as collateral under the ECB Repurchase Agreements (Repo) System. The initiative starts with Residential Mortgage Backed Securities (RMBS), with other asset classes to follow.

“This is a significant shift from existing requirements”, said Randall Orbon, vice president, Sapient Global Markets. “The challenge for most data providers will be locating, identifying and extracting large volumes of complex data from disparate systems. Not to mention that they will also need to standardize the data to fit the ECB’s asset-specific templates, validate the data content, and create and submit compiled XML files to the European DataWarehouse. Today’s announcement is a huge step forward for companies looking to ensure compliance, as it will allow data providers and users to plan, prepare, build and deliver loan-level data within the ECB’s short timeframe.”

The new Sapient Global Markets offering includes a combination of services such as complex data mapping and enrichment,  the conversion of data between formats required by different regulators such as the ECB and Bank of England (BoE), and the streamlining of two-way communication between regulators and data users through custom built connectivity channels. All services are provided by a team of experts fluent in the business and technology requirements of the structured finance markets. The services also include:

•    Data mapping
•    Data validation
•    Data enrichment
•    Data back loading
•    API construction

 

As one of the principal constructors of the European DataWarehouse, the European central data repository owned and operated by the market for the market and endorsed by the Eurosystem, Sapient Global Markets is in a unique position to help companies complete complex data extraction, transformation, standardization and reporting of loan-level characteristics and performance of securitized bonds.

To assist data providers integrating with the European DataWarehouse, Sapient Global Markets is also providing an XML data validation service. The service will receive XML test data files as firms start to generate RMBS and SME XML data during their development and testing, and will provide invaluable early insight into eligibility against ECB data validation criteria, allowing firms to better manage their collateral. Sapient Global Markets can also provide the resources to help back load loan-level data for existing RMBS, which is critical if they are to continue to be used as collateral after the deadline.
 
For investors and other data users looking to extract maximum insight and value from the newly available volumes of detailed loan-level data, Sapient Global Markets’ Structured Finance Risk Manager can then compare evolving loan performance over time, dramatically increasing deal insight, understanding of how performance has evolved over time, and calibration of cash flow modeling.

For further information on Sapient Global Markets structured finance offering contact sgm@sapient.com.

About the ECB ABS loan-level initiative
On July 6, 2012 the ECB announced that valid loan-level performance data for new and existing RMBS bonds, with other Asset Backed Security (ABS) asset classes to follow, must be collected and submitted to the European DataWarehouse by September 2013. Not complying with the required reporting by that date would render the RMBS ineligible as collateral under the Eurosystem repo operation.

About Sapient Global Markets:
Sapient Global Markets, a division of Sapient® (NASDAQ: SAPE), is a leading provider of services to today’s evolving financial and commodity markets. We provide a full range of capabilities to help our clients grow and enhance their businesses, create robust and transparent infrastructure, manage operating costs, and foster innovation throughout their organizations. We offer services across Advisory, Analytics, Technology, and Process, as well as unique methodologies in program management, technology development, and process outsourcing. Sapient Global Markets operates in key financial and commodity centers worldwide, including Boston, Chicago, Houston, New York, Calgary, Toronto, London, Amsterdam, Düsseldorf, Geneva, Munich, Zurich, and Singapore, as well as in large technology development and operations outsourcing centers in Bangalore, Delhi, and Noida, India.

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