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SynoFin Risikomanagement Service AG and Lupus Alpha Business Solutions GmbH (LABS) entered into a strategic partnership. This provides customers with a comprehensive, cost-effective and proven solution for all aspects of asset and risk management.
This joint offering was presented at both at the BVI Operations Conference in March and at the LABS User Group Meeting in May. We are very pleased with the very positive response and promising inquiries.
LABS has been a proven and valued IT service provider for over nine years and focuses on data management, regulatory reporting and outsourcing services in asset management in German-speaking countries.
In addition to the front office solution with SimCorp Dimension, the range also includes various reporting services. The core of the offer is a data warehouse (labs DWH) - here the data is quality-assured and normalized from various sources in order to be available for various applications.
SynoFin's risk management offers a logical complement to this. In this unique combination, customers can now take advantage of a modular front to back service without having to worry about complex integration or having different contact persons. Onboarding is considerably simplified, which of course also has a cost-effective effect on the operation of the combined solution.
As if that weren't enough, the results are not only visualized in state-of-the-art dashboard technology, but are also available in an innovative solution as SynoFin RiskMan 3D, i.e. a real "visual portfolio" or as 3D video reporting - these two components were developed and driven by our partner Visual-qi, the specialist in augmented reality for the visualization of data from the investment and financial sector. Thus one of our goals is achieved - to make complex multidimensional facts easier and more intuitive to understand.
We went live with our RiskMan, Bilanzcockpit and opRisk-Tool products at: three banks, one fund company and two asset managers in the first half of the year.
We remain true to our philosophy. Our products are developed with and for customers, and in this respect our range has continued to grow strongly in the course of the last successful implementations.
In RiskMan, the basic module was expanded to more than 100 individual stress scenarios, which can be calculated according to the stress test groups bond PV, equities, interest rates, interest spreads, volatility and exchange rates.
Further derivative financial instrument types have been included in the risk calculation and the clean backtesting functionality has been extended.
The SCR module now makes it possible to calculate the interest rate risk, equity risk, real estate risk, spread risk, exchange rate risk and concentration risk categories combined under Solvency II Market Risk.
A trend-setting new standard report was developed and implemented, as was a completely new dashboard based on key figures.
The RiskMan opRisk tool was expanded to include the corresponding risk categories in the light of DSGVO and MiFID II.
The RiskMan BilanzCockpit is now stable and high-performance in use and enables key figure-controlled simulation and control of balance sheet risks.
An era at SynoFin is coming to an end. Adolf E. Real, Chairman of the Board of Directors, retires from the Board of Directors for reasons of age. His successor is former VP Bank Manager and COO Gerhard H. Häring, who previously held the position of Vice President.
This ensures a seamless handover within SynoFin with a still high level of financial knowledge. In addition, Alfred Jäger, another entrepreneurial personality, was elected to the Board of Directors. We would like to thank our outgoing Chairman Adolf E. Real for his great services and wish his successor Gerhard H. Häring success. SynoFin has grown strongly in recent years and continues to expand.
The annual review of the calculation kernel, development, operation and service processes was completed with an extremely pleasing and positive result. In accordance with ISAE3000 Standard Type 2, PWC confirmed that all controls were adequate, functional and in good working order throughout the year.
In a strictly structured and standardized process, the defined key controls of the IT and service process were examined in several phases by means of system inspection, interviews, sampling, control reports, release management tool checks and protocols. The audit opinion confirms that the design and effectiveness of the internal controls were in place throughout the observation period and that the defined control objectives were achieved.
The audits of the RiskMan calculation kernel were extended to include stress tests and backtesting and were concluded with positive results. It was confirmed that the implemented methods comply with defined guidelines and principles in all material respects.
We are pleased about this positive assessment by a competent and independent body and see this as confirmation of the intensive joint work with our partners and customers.
This new RiskMan module is now being used by our first customers. In dialogue with our customers, we have broken new ground and developed a trend-setting solution. The RiskMan BilanzCockpit is designed for decision- and action-oriented dialogue between the relevant decision-makers and is easy to use, quick to implement and cost-effective.
The connection is made via an interface to FiRE from Bearingpoint and guarantees the highest possible data quality and stability as well as rapid implementation. The static risk measures for interest rate risk, liquidity and own funds are loaded and processed internally for the limit effect calculation of defined simulation transactions.
Based on this, the representation is made via the dashboard functionality of the RiskMan BilanzCockpit. In this way, the effects of balance sheet optimisation measures on various risk parameters can be simulated ad hoc in the transaction monitor and various stress scenarios can be analysed.
The RiskMan BilanzCockpit provides an integrated view of the respective balance sheet risks using central control factors and key figures, and enables real-time representation of the effect of planned balance sheet transactions on risk variables and returns.
Regulatory Watch in the area of risk management and in the service of our clients is both our concern and our mission. MiFID II and DSGVO have resulted in new changes/additions to be taken into account for the risk categories in operational risk. These have been included in the RiskMan opRisk tool and are now available in Release 2.0.
The RiskMan opRisk tool is based on decades of practical experience and observations. In three steps, risk matrix and risk report are created in a short period of time with little own effort. The company-specific basic settings regarding loss potential and probability of occurrence are carried out in a 1-2-hour introductory workshop on site. SynoFin's risk managers record the results of the risk assessment in the opRisk tool and perform further calibrations. Finally, the raw version of the risk report is produced, which is then jointly supplemented by qualitative comments.
SynoFin has never been satisfied "only" with meeting the regulatory requirements, but has always had the ambition to create "added value". Of course, this also includes better visualization of complex interrelationships.
Our partner Visual-qi is an experienced specialist when it comes to 3D and Augmented Reality. Based on the quality-assured calculation results of SynoFin RiskMan, Visual-qi has created a completely new 3D representation of portfolios. This visualization facilitates and accelerates the understanding of abstract and complex correlations. This allows you and your customers to work more efficiently, make the right decisions and act better and faster. Take a look at it – and you will immediately understand what we mean.
Both our presentation and the live demo at the joint booth with Lupus Alpha Business Solutions were the eye-catcher at this year's BVI Fund Operations Conference.
With the new 3D view of portfolios, complex and multi-dimensional relationships can be intuitively represented in "virtual reality". Scenarios and stress tests become "alive". Thus we support the future role of the risk manager as enabler and communicator. Spontaneous shouts from our guests such as "awesome", "unbelievable" or "cool" were a nice confirmation of our new path.
The topic of risk management will also be with on Board of the Roadshow again.
Renowned keynote speakers and fund center experts will address the controversial aspects of "Liechtenstein as a gateway to the EU market for Swiss financial service providers" and show how financial services can be offered in the EU area via presences in Liechtenstein.
An easy-to-use web application, based on account closing data from FiRE, enables the risk of: interest rate risk, liquidity and own funds, to be displayed at the touch of a button. The effect of balance sheet optimisation measures on various risk parameters can be simulated online. Together with the development partners Lopag and Bearingpoint, the BilazCockpit is now ready for mass production.
With increasing market dynamics, it is not only the demand on our quants to present complex financial instruments in ever shorter time, in ever more granular form, and with even more risk ratios that is increasing.
Our customers are also limited by conventional reports in the ever faster communication triangle of asset manager - risk manager - investor. This is why we are breaking new ground with our dashboards and now also in three-dimensional space with augmented reality.
The new normal can no longer be reproduced with traditional stress tests - How can science help?
Prof. Dr. Thomas Breuer, who is in charge of the SynoFin RiskMan calculator with his chair, gave a lecture on this topic at the BVI Risk Management Day.
Numerous questions were asked from the filled auditorium and a lively discussion developed, in which the keynote speaker, Prof. Dr. Steffen Kern from ESMA, also took part.
In Zurich, Vaduz and Germany, numerous participants showed great interest in the SynoFin solutions and services. In particular, the possibility of setting up funds with a lean structure quickly and at low cost using delegation and software-as-a-service licenses was very well received.
The audit of the RiskMan software and services by PWC PricewaterhouseCoopers produced an extremely positive result. The high requirements resulting from the FMA approval according to AIFMG had a very positive effect on the audit result. All essential control fields had already been set up and documented appropriately for the entire audit period, so that the audit could already be completed according to Type 2 and without any significant comments.
Are you planning the conversion / reissue of a fund according to AIFMG or UCITS?
Then you need ad-hoc and perhaps for the first time risk figures for new and possibly also complex financial instruments.
In 5 simple steps you will receive the appropriate risk reports.
The sales activities in Germany are showing first successes. Two leading banks are now SynoFin customers and will go into production in the coming months.
"We have received very positive feedback from the discussions with financial market participants in Germany. The functional width and depth of a lean and scalable solution were particularly convincing. Ongoing regulatory pressure has repeatedly put the issue of risk management on the strategic agenda," says Peter Neuhaus, Sales Germany.
More than 150 participants accepted the invitation of the Swiss Fund Acadamie on 29 November as part of the Friends of Funds series of events on risk management in the fund & asset management business.


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ASX Sports Pursuing €750,000 through Fundraising Campaign
12. September 2022 | UPDATED ON: 12. September 2022
ASX Sports, a provider of fantasy sports powered by blockchain, has unveiled a new crowdfunding effort. The campaign intends to raise an extra €750,000 from small and medium-sized investors who will obtain business equity.
The operator simultaneously introduced its newest live fantasy sports product, which permits peer-to-peer contests during games.
ASX will use the additional funds to take advantage of market openings and deliver new products to the US casino and sports betting market.
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Previous Funding Campaigns Found Great Success
Paddy Power, former head of communications for Betfair and founder of the ASX, launched the new campaign in partnership with crowdfunding platform Spark. Power was featured in a video on Spark's official YouTube channel, highlighting the forthcoming projects of the crypto-based operator.
According to the official information provided by ASX, current investors would be granted an exclusive first option ahead of the general public. The company has already completed numerous successful funding campaigns.
In 2021, ASX raised €2.2 million, far exceeding its intended goal of €500,000. The company recently stated that it will hold its Series A funding next year, so this may be the final chance for small investors to invest.
The Company Introduced the Most Recent Live Fantasy Games
The second highlight of ASX's recent announcements was the launch of the first live fantasy sports fan contests in the globe. The company indicated that they intend to transfer the current trend of in-game wagering, which accounts for 80% of all sportsbook action, to fantasy sports.
Players will be able to build their own contests and teams, as well as engage with other bettors, thanks to the new technology.
Power also attempted to persuade potential investors by highlighting his company's successes, including the 20,000 installations of the ASX app and agreements with high-profile organizations such as the NBA, NFL, MLB, and EPL. The operator's pay-to-play games are accessible in 23 states and multiple additional nations.
Based on ASX's past performance, this final round of crowdfunding before its Series A should be successful. Despite its late debut into the fantasy sports business, the Irish company boasts strong investor interest and favorable sentiment.
ASX is one of a number of startups seeking to disrupt the gaming industry by leveraging blockchain technology and Web3 developments.
Additionally, the company became involved with NFTs, working with RugbyPass to create Global Rugby NFTs and incorporating the technology into a number of its products. Recent developments have helped the company retain its momentum, but ASX has yet to make an effect on the sports betting industry.
Categories News Tags ASX Sports, Fantasy Games, Sports Betting Post navigation
Decentralized Trade Betswap.gg Launches in Beta
ESPN Offers New Sports Betting Programs Prior to Football Season

redpajama_set_name: RedPajamaCommonCrawl


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Nortel inks new 1-yr $1.3B credit facility
By Katherine Hunt
Published: Feb 1, 2006 12:11 p.m. ET
KatherineHunt
SAN FRANCISCO (MarketWatch) -- Nortel Networks Corp. N, -2.94% ca:nt said Wednesday it has entered into a new, 1-year credit facility in the aggregate amount of $1.3 billion. The facility consists of a senior secured 1-year term loan facility of $850 million and a senior unsecured 1-year term-loan facility of $450 million. The new facility matures in February 2007 and will be used to refinance the outstanding $1.275 billion principal amount of 6.125% notes due Feb. 15 of the company's principal operating subsidiary, Nortel Networks Ltd., Nortel said.
Namaste Technologies Inc. Canada: TSX Venture: N


There isn't alot of beer from Queensland sold down here so this post was the biggest challenge so far. XXXX Gold is the only macro lager from Queensland sold down here and it's a light beer. XXXX Bitter, or 4-X as the locals call it, is the state macro lager and I'm pretty sure this is the first time I've had this beer.
Blue Sky Brewery in Cairns provides the second macro(ish) lager. Probably technically it's not quite a macro lager yet, but it's well on the way to becoming one. The third beer from Queensland was chosen purely because I like the name as opposed to any better reason. My Wife's Bitter is from all reports is a pretty solid craft lager, let's see what the third most populous state in Australia can serve up for us.
XXXX Bitter is a banana benders beer of choice. The beer is produced by Castlemaine-Perkins and has had better sales overseas, mostly in the U.K., than it has in other Australian states. It pours a lovely golden colour with very little white head, there does appear to be heaps of carbonation though which helps with the head retention.
The appearance of XXXX Bitter is quite impressive for an Australian macro lager. The nose is mostly of sweetish malts, with little to no hops present which is somewhat alarming. The flavour however is better and there is enough hop bitterness to satisfy me. 4-X is somewhat over carbonated, which almost ruins the beer for me, however the drinkability is reasonable.
FNQ Lager is produced by Blue Sky Brewery and I assume stands for Far North Queensland Lager. This is another beer I haven't had before, but this one I'm really quite interested to try as the beer is bridging the gap from micro to macro lager. The pour is a slightly odd hazy orange colour with a strong white head of tight foam on top. It's quite impressive.
So the nose of FNQ Lager is exactly what I've been looking for in a lager. This beer has some serious floral hops on the nose and minimal malt, however there definitely is some there. The taste is slightly different to what I imagined, there's a fair bit of Munich style malts present before the hops kick in towards the end. It's actually a really nice beer, quite similar to Lowenbrau but with a distinctly Australian twist.
Unless my eyes are deceiving me, My Wife's Bitter looks astonishingly like an actual English Bitter, which would be an ale! This is either a very strange dark(ish) lager or an ale. Only a tasting will tell me what's going on here but from the appearance it would appear that my intel is wrong on this beer.
The nose and taste of this beer indicated to me what I already had suspected, this in an English Bitter! Therefore this is an ale, but we will push on regardless. The nose is pretty complex with caramel and chocolate malts dominating the aroma until some spicy earthy hops take over towards the end. The flavour is similar to the nose, but it tastes a little bland and is almost boring... I don't think it's one I'd have again.
Queensland's beers were a bit of a mixed bag this evening. XXXX Bitter was actually a bit better than the some of the things you hear about it would suggest. FNQ Lager had a real touch of quality about it, while My Wife's Bitter from Burleigh Brewing gets ticks for the name but not alot else (remember this is a lager competition...). Overall though it was a nice session and I think I might have found a real winner in FNQ Lager. Western Australia is up next and as tomorrow is Friday I imagin it will be up tomorrow, see you all then!