Post Trade
Post Trade Solutions’ Quantitative Services team of LSEG has announced that they are working with risk management firm Rhisco Group, enabling the business to enhance its quantitative capabilities and expand its service offering across Mexico and the broader Latin American (LATAM) market.
Bringing together Post Trade Solutions’ global experience and Rhisco’s deep regional expertise, this collaboration aims to deliver innovative solutions tailored to clients across LATAM and to develop new strategies and technologies that benefit the financial sector more broadly. Critically, it enables Post Trade Solutions to deliver more effectively for both regional and global clients.
“Rhisco shares our vision of excellence and commitment to innovation. Together, we are prepared to face future challenges and deliver cutting-edge solutions,” said Xabier Anduaga, Partner, Quantitative Services, Post Trade Solutions of LSEG.
“We are excited to join forces with Post Trade Solutions of LSEG. This alliance enables us to deliver added value to our clients and further strengthen our position in the region,” said Elizabeth Marvan, Co-founder and CGO of Rhisco.
XVA implementation for Banca Mifel
A key milestone of this collaboration is the successful implementation of a valuation and regulatory reporting platform for calculating credit valuation adjustments (XVA) for Banca Mifel. The platform, which is jointly powered by Post Trade Solutions’ Open Source Risk Engine (ORE) and Rhisco’s tech tegra platform, was launched following recent changes in derivative requirements established by the Bank of Mexico (Circular 19/2023), which mandate real-time calculation of XVA and other risk metrics.
The implementation of the new platform was successfully deployed within months, and Banca Mifel’s quant team seamlessly adopted the solution shortly after this. The bank now benefits from ORE’s comprehensive valuation capabilities across portfolio, counterparty, and trade levels. New derivative products have since been onboarded and deployed into production, leveraging tegra’s robust data management and scalability.
As a result, Banca Mifel has strengthened its position within the local derivatives market, now capable of expanding its derivatives operations while ensuring regulatory compliance through advanced XVA and reporting technology.
“Over the past decade, Mifel has experienced sustained growth, with derivatives complementing our offering. Last year, we sought a scalable and flexible technology platform with advanced methodologies to support new derivative products. XVA metrics are essential for managing balance sheet and counterparty risks. With ORE-enabled tegra. XVA, we can identify coverage measures in real time and meet the time-to-market demands of our clients,” commented Carlos Fernandez, CRO of Banca Mifel.
Future plans: Strengthening our regional presence
We aim to deepen our footprint in key LATAM markets, enhancing our ability to serve both regional and global clients more effectively. A core part of this strategy is offering a cost-effective risk analytics solution tailored to meet local regulatory requirements, providing a compelling alternative to higher-priced global vendors.
Our business model focuses on on-site software delivery, enabling clients to fully own and manage their systems over the long term. This includes comprehensive training and support to ensure successful adoption and sustainability.
Looking ahead, we also plan to:
- Co-host industry events across the region to foster collaboration and thought leadership.
- Provide documentation and consulting services in Spanish, ensuring accessibility and relevance for local clients.
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