Technology solutions provider for trading and risk management Numerix has joined the Swiss Structured Products Association (SSPA) as a new member and partner.

The US firm provides structured products technology, pricing and risk management to a number of market players in Switzerland around the automation of price discovery, request for quotations (RFQs) and order execution for structured products and investments.

"Our dominance in structured products technology speaks to how Numerix is looking to differentiate in the marketplace by bringing core and critical components together in a cross-asset infrastructure," said Steve O'Hanlon (pictured), CEO at Numerix in a statement. "As we are active in continuing to expand our business in Switzerland and other surrounding financial centres - these efforts are underscored by our membership in the association."

The addition of Numerix to the SSPA ranks represents makes part of the trade body's plans to represent the interests of the most important market participants, which together cover more than 95% of the market volume for structured products in Switzerland. SSPA President Georg von Wattenwyl said Numerix will provide added value to the association "through its broad international positioning and technical expertise".

Numerix is the third firm to join the Swiss association this year after the addition of law firm Baker McKenzie and Indosuez Wealth Management, in January.

The news follow the recent launch by competitor outfit Thomson Reuters of a new compliance solution aimed at helping market players to manage regulatory change via a 'robust compliance dashboard and enhanced mapping' aimed at improving the ability to mitigate risk in volatile environments.

Thomson Reuters' new Regulatory Change Management (RCM), is a new end-to-end compliance workflow solution offered by Thomson Reuters Enterprise Risk Services that enables compliance teams to connect standardized regulatory rules to their own procedures for optimal mitigation of their risk. Users can tailor the information they receive through predefined and customized taxonomies, as well as the frequency of their notifications about regulatory changes.

Missing a relevant regulatory change can be critical to the business and professionally damaging, so the pressure is high to stay on top of regulations in each jurisdiction where an organization operates, said Gareth Evans, managing director, enterprise risk management at Thomson Reuters.

The RCM solution integrates regulatory content from Thomson Reuters and third party platforms, mapping this data directly into firms' internal policies and procedures. This allows organizations to manage their regulatory change management processes from end-to-end and is fully auditable, enabling easy tracking for regulators.

The integrated RCM module can also reduce administrative workflow and costs, 'as it enables it to consolidate, verify and process more effectively the often duplicative requirements lodged within regulations and directives, as well as in regulatory and legislative materials'.

According to Thomason Reuters, the RCM has been implemented by organizations in the Americas, the UK, and Continental Europe, and comes on the back of the acquisition of Empowered Systems, a UK-based regulatory technology provider in March 2016.

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