Are you really ready for risk-free rates?

Whether you work primarily in euros, dollars or sterling, you will be aware of the many practical challenges of the migration from IBORs to risk-free rates (RFRs). Regulators have tried to be flexible on deadlines, due to the unexpected strains on resources presented by the Covid-19 pandemic. But no one can afford to underestimate the work involved, given the sheer volume and range of transactions affected.

Over the past 12-18 months, SkySparc has been working with clients across many impacted sectors – central banks, banks, asset managers and corporate treasuries – to ensure a smooth, robust and compliant migration. We have developed a customizable methodology that combines in-depth process management expertise with high levels of automation, leveraging OmniFi.

Key elements

Analysis

Pre-study and impact assessment to determine migration strategy.

Testing

Installation and testing of hotfixes / WSS product enhancements / interface updates.

Config-uration

Configuration of new curves and reference rates, and related static data.

Migration

Automated transaction migration via OmniFi, including reconciliation and validation.

Some organizations may be well advanced in their IBOR migration plan, but need additional expert resource. Others may be at a much earlier stage, perhaps due to lower transaction and instrument usage and volumes. Whatever your specific IBOR challenges, contact us now to find out more and ensure you’re really ready for risk-free rates.