Tags: CTRM, ETRM, regulatory compliance, risk management, software, total ownership cost
Wishful Thinking is an attitude or belief that something you want to happen will happen even though it is not likely or possible instead of by appealing to evidence, rationality, or reality.
Not Invented Here (NIH) is a state of mind or philosophy that stems from a belief that in-house systems are inherently more suited to one’s organization than third party solutions. This results in a tendency to attempt to “reinvent the C/ETRM wheel.”
Tags: EMIR, Energy Market, Energy Risk Summit Europe 2014, MiFID II, Pioneer Solutions, regulatory compliance, REMIT, risk management
Energy Risk Summit Europe 2014
It’s hard to stay on top of the constantly shifting variables of energy markets, and with the assured implementation of stricter regulatory policies in the near future, it’s not getting any easier. That’s why Pioneer Solutions will be attending the 17th annual Energy Risk Summit Europe this year, in London, from September 30th to October 3rd. This conference, hosted by Energy Risk, is geared towards all energy professionals who want to learn more about regulatory policies (EMIR, REMIT, MiFID II) as well as risk management in European energy markets.
Tags: asc815, asc820, best credit risk system, Commodity Energy Trading and Risk Management -Etrm, Credit Risk Software, credit value adjustment, CVA, derivative accounting, DVA, FAS 133, FAS 157 compliance reporting software system, Pioneer Solutions, regulatory compliance, TRMTracker
Written by Uday Baral, Pioneer Solutions’ President/CEO
Are you prepared for financial regulations related to Credit Value Adjustments and Fair Value Disclosure?
Two counterparties are taking market risks as they enter into a trade. In addition, they are also taking credit risks against each other, due to counterparty default (i.e., counterparty credit risks). Credit risks should be adjusted appropriately with credit/debt value adjustments (i.e., CVA/DVA) in order to reflect the adjusted value of the portfolio.
The FASB and IFRS accounting standards require fair value adjustments, due to credit risks. These requirements are dealt with in ASC815 (FAS133) and ASC820 (FAS 157) FASB standards in the US. Similarly, IFRS standards IFRS7, IFRS9 and IFRS13 define these requirements. Fair value hierarchy disclosure is also required by both FASB and IFRS standards.
While the concepts of these requirements are simple, proper implementation could not be more complex. Because of this, companies will require a solution that requires tight collaboration among market and credit risks and derivative accounting processes/solutions.
Tags: 2013, compliance tracker, CTRM, Dodd-Frank Compliance, EMIR, Energy Risk, energy risk rankings, energy risk software survey, Environmental Compliance Solutions, etrm budgets, Pioneer Solutions, regulatory compliance, REMIT
Energy Risk recently released the results of their 2013 Software Survey and Rankings. In these results, ETRM software vendors were ranked in several different categories on a variety of capabilities. (For Pioneer’s results, click here.)
In addition to surveying participants on vendor capabilities, the survey also gathered information from respondents about their plans and preparedness on certain issues. This year, the big topics were budget and regulatory compliance.
Tags: 2013, carbon emissions trading, carbon trading software, Compliance software, Credit Risk Software, energy industry, Energy Risk, management software, Pioneer News, Pioneer Solutions, regulatory compliance
Pioneer Solutions is pleased to announce their results of the Energy Risk Software Rankings.
This year, Pioneer Solutions ranked in the top five in 15 separate categories, including No. 1 in Carbon Emissions. This is more than double the number of individual categories in which Pioneer was ranked in the previous year and nearly quadruple since 2011. Continue reading