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McObject®, developer of the ultra-fast and scalable eXtremeDB® for HPC database management system, has been named a finalist by the RegTech Insight Awards in the ‘Best Software Solution for FRTB’ category. The awards, run by the A-Team Group, were created to recognise both start-ups and established providers of creative solutions to help with regulatory challenges spanning a wide range of regulatory requirements.
McObject was selected as a finalist for its unrivalled efficiency in real-time and historical data analysis that is required to meet FRTB’s regulatory obligations. For example, while risk is currently calculated at entity level, one of the stipulations of FRTB is for risk to be calculated at desk level, resulting in an unprecedented amount of data, analysis and reporting, estimated to be up to 10x higher than pre-FRTB. eXtremeDB addresses this and other data-related challenges for clients with its consistently high speed of processing and ability to handle extremely large and complex time-series data sets.
The announcement is the third shortlisting of the year for McObject, which kicked-off 2019 in a very positive fashion, following an impressive 2018. In addition to key product announcements, partnerships and client wins last year, the company set several industry benchmark records, particularly impressively winning ‘Outstanding Structured Database’ and ‘IoT Vendor of the Year’ at Computing’s Big Data Excellence Awards and Technology Product Awards respectively.
Chris Mureen, COO of McObject, commented on the news: “We are very pleased to be shortlisted for a third time before the end of February, although to be shortlisted by such well-regarded awards is an achievement on its own! It goes without saying how proud we are, particularly given that it has come in a regulatory-focused forum, which goes to show the wide-ranging applications of our offering.”
The company was founded by database and real-time systems experts and offers proven, reliable and robust technology to the world’s leading banks, exchanges, hedge funds and other financial institutions in a broad range of areas including risk management, order book/matching engine and compliance (e.g. MiFID II, FRTB). The company is honoured to have over 28 million worldwide deployments, with eXtremeDB used in quality products from industry leaders such as GoldenSource, TradeStation, NSE-IT and the Dalian Commodity Exchange.
To view the full shortlist, click here. The RegTech Insight Awards winners will be announced at a gala lunch ceremony in London on 3 May 2019.
