In the financial markets, traditional risk technology solutions have focused primarily on batch-driven processes that perform calculations once the trading day has been completed. These types of solutions are not surprising, given the increased regulatory demands placed on capital markets participants since 2008.
Stress tests, resolution planning, SREP, IFRS9, ICAAP,Basel III, MIFID II - the list of such compliance and regulatory requirements is large and still growing. Given these pressures, many solutions in risk technology tend to be bespoke collections of services that don’t share data or processes, and are often run by separate teams.
At Clear Street, our vision is to build a core data processing and calculation engine that can be adapted to service multiple risk and regulatory requirements. The goals of this platform are: to constantly process data from multiple sources; to provide elastic compute that can adapt to changing demand; and to provide timely access to results.