Responding to a Changing World

The replacement of the historic Libor rate system (the London 30-bank daily rate used globally) is challenging banks and other trading businesses. They need to understand their Libor obligations in aggregate and in relation to specific areas in order to factor in and report on their exposure. Businesses have hundreds of thousands of historic transactions / contracts which reference Libor – an estimated $200trillion worth of contracts that are still current are underpinned by the Libor rate. This information is contained in electronic and paper formats , in many different types of documents and other data containers. To solve this problem, third party software providers have built systems to gather together the unstructured data, to scan and to read all these contracts (paper or electronic), and to identify everything that is relevant to Libor exposure.

This generates in turn a massive data table of hundreds of thousands of records per organisation. Adaptable Tools has worked with one of these providers to create an application on behalf of each client which allows the data to be dragged and dropped into AdapTable.

Users can now:

- Search and Filter the unstructured data according to the parameters they need e.g. by asset class, by counterparty, by currency, by date;

- Create scheduled, dynamic reports to share up to the minute updates on bank exposure;

- Create an overall picture of full exposure using aggregated views, with each row showing a summarised view of hundreds of thousands of individual records This allows users to deliver on the compliance obligations the regulators have set them, but also to have a proper understanding of their risk, informing both operational and trading decision-making.