Wipro inks partnership with Quaternion

Wipro announced a partnership with industry-leading Standard Initial Margin Model (SIMM) vendor, Quaternion Risk Management.

The announcement was made after market hours yesterday, 24 August 2020. Shares of Wipro fell 0.24% to settle at Rs 272.70 yesterday.

As part of the collaboration, Wipro will offer SIMM-in-a-box to financial institutions covered under Uncleared Margin Rules (UMR). The partnership aims to provide cost efficiencies and seamless integration with clients' internal systems, while maintaining full control over sensitive trade information. The partnership also leverages Quaternion's established quantitative library to determine trade sensitivity for CRIF generation and SIMM calculation.

The offering will allow financial institutions to calculate trade sensitivities, generate CRIF (Common Risk Interchange Format) file and calculate initial margin in-house. The solution simplifies compliance procedures by including back testing, benchmarking and preparing documentation required for regulatory approval. It also offers independent model validation of a firm's own internal SIMM solution, AANA (Aggregate Average Notional Amount) calculation, and Initial Margin exchange threshold calculation/simulation.

Quaternion Risk Management is a capital markets consulting and software company focused on the quantitative aspects of risk management, trading, and derivatives pricing.

Wipro is a leading global information technology, consulting and business process services company.

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