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Press Releases
Ontario Teachers’ Pension Plan Board Goes Live with OpenLink’s Findur
Client Completes Latest Implementation Phase on OpenLink’s Findur Platform
New York, October 29, 2008 / Business Wire: Open Link Financial, Inc. ("OpenLink"), a leading provider of cross-asset trading, risk management and operations processing software solutions, announced today that the Ontario Teachers’ Pension Plan Board ("Teachers'") (http://www.otpp.com), one of Canada’s largest and most sophisticated asset managers, has further expanded its use of the Findur platform to now include straight-through-processing for Credit Default Swaps and Commodity Derivatives.
"With the completion of this initiative, these new asset classes join our existing set of live instruments that includes Bonds, Money Market/Repos, Futures, Interest Rate Swaps, Swaptions & Caps/Floors," commented David McGraw, Chief Financial Officer of Teachers’. "These end-to-end trade processing operations are all housed within one central and transparent platform, accessible to more than 130 users across the Fund."
New with this release was the delivery of an innovative integration solution to Markit’s End-of-Day CDS spread service and Markit RED, providing significant efficiencies for trade processing and daily pricing. Both integration solutions have been certified by Markit. Future phases will extend the Findur implementation to FX, Loans and Equity Derivatives.
McGraw added, "The addition of Credit Default Swaps and Commodity Derivatives (swaps & options) adds to our growing data foundation for critical OTC terms & conditions information. This data has already been leveraged by many parallel initiatives within our organization."
"We are extremely pleased that the project goals and vision for a single solution supporting a wide array of asset classes are being realized by Teachers’," commented Ken Knowles, Executive Vice President of Financial and Risk Solutions at OpenLink. "Our solution is continuing to benefit from our relationship with Teachers’ and generating market interest, particularly with the buy side community, as a result of Findur’s valuation, analytical and operational processing capabilities."
About Ontario Teachers’ Pension Plan
With $108.5 billion in net assets as of December 31, 2007, the Ontario Teachers' Pension Plan is the largest single-profession pension plan in Canada. An independent organization, it invests the pension fund's assets and administers the pensions of 278,000 active and retired teachers in Ontario.
About OpenLink
Founded in 1992, OpenLink is a leading developer of cross-asset trading, risk management, and related operational and portfolio management software. OpenLink’s diverse client base of over 130 customers worldwide includes 10 of the top 25 largest energy companies by market capitalization, eight of the largest financial institutions and seven of the largest central banks, as well as major hedge funds and public utilities. Headquartered on Long Island, New York, and with offices in New York, Houston, London, Berlin, Vienna, São Paulo, and Sydney, OpenLink has more than 620 employees worldwide.
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