Global Rate Set Systems Services and Technology
Our services can be tailored to meet some or all of your business requirements. Our team will meet and listen to your future needs and provide an outline of how we may be able to help your organisation.
Benchmark Administration Services
GRSS has the people, expertise, experience and capability to perform the role of Benchmark Administrator. The scope of our involvement can range from assisting current benchmark administrators with their responsibilities at one end of the scale to assuming overall responsibility for a benchmark should the current administrator wish to cede their own responsibilities at the other end of the scale.
Calculation Agent Services & Systems
GRSS has developed proven technology to collect data (contributions, market feeds and transactional data) to calculate and disseminate financial benchmarks and reference rates. GRSS is the current calculating agent for EURIBOR (as a service provider to the European Money Markets Institute (EMMI)) and supplier of the calculation software to the European Central Bank for the calculation of EONIA. GRSS replaced Thomson Reuters in July 2014 as the Calculation Agent for Euribor.
Transaction Data collection technology
IOSCO has recommended that benchmark administrators move from estimate based submissions to transaction based submissions. GRSS is a world leader in the provision of “black box” encrypted software that submitting banks can install on their own networks, using standard technology, to collect and process their internal transactions.
Benchmark Data Licensing
Effective Benchmark Administration requires a detailed knowledge of who uses the benchmark and how its use is applied. GRSS has experience in transforming a benchmark, sets of benchmarks or data sets to a licensed or fee liable model. GRSS manages the transition process, customer contracts, invoicing and data permission to ensure that the commercial aspects are handled professionally and in accordance with regulatory requirements (MIFID). The service involves providing and negotiating data use contracts with information vendors, exchanges, clearing houses, internet service providers and end users such as banks, investment house and individuals. GRSS provides this service on behalf of the Benchmark administrator to their benefit on a contractual basis.
Bespoke Fixings and benchmarks
Industry associations, private and public sector entities have a continued need for the development of new benchmarks in support of their customer requirements and GRSS can provide an end-to-end solution covering design, regulatory compliant governance, infrastructure development and launch.