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SYSTEM
BUSINESS
OPERATIONS
DATA ORIGINATORS
ECB
DATA USERS,
TOOL PROVIDERS,
RATING AGENCIES,
PORTAL PROVIDERS,
ECB,NCBS,
EURO SYSTEM
VERIFICATION RULES
CREDENTIALS
Quality and Metrics
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Search
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SIGNED XML
VERIFICATIONS
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Processes
User
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Operations
EUROPEANDATA
WAREHOUSE
Login
CREDENTIALS
ECS
Objects
User
Registration
Incident ManagementMonitoringQuery Management
Euro SystemCollateralFramework
System Interactions
Main Data FlowManual Processes
Data Store
Detailed Activities
User Creation
and Maintenance
Veri�cation
Get Veri�cation
ResultsSIGNED XMLUpload data
SIGNED XMLLogin
CREDENTIALS
Sales
Software
Application MaintenanceMonitoringQuery Management
Account ManagementClient Acquisition
Finance
BillingBusiness Management
ObjectivesAs the first central data repository owned and operated by market participants and endorsed by the Eurosystem, the European DataWarehouse aims to promote transparency within the European ABS market. Specifically, it was established to meet the following objectives:
• RestoreinvestorconfidenceintheEuropeansecuritization market
• IncreasemarkettransparencyandtimelyaccesstoABSdeal, bond and loan-level performance data in a single centralized database
• BringstandardizationandconsistencytoABSloan-leveldata reporting across the Eurosystem
• ImproveaccesstoABSloan-leveldataforinvestorsand other interested parties through a data warehouse infrastructure
• SupporttheECBrisk,collateral,complianceandstatistics management objectives for structured finance assets within the Eurosystem
Solution A web- and standards-based solution, the European DataWarehouse software called Edwin validates, stores and reports on ABS loan-level performance data and allowsintegrationwiththird-partysoftwaresystems.Ithelps data providers, originators, issuers and servicers process, submit and verify loan-level performance data for assets that are being used as collateral under the ECBRepoSystem.Oncetransactionsareavailable,the investor community, data providers, traders, ratings agencies and regulators can retrieve details about specific ABS deals and their current underlying collateral pool.
Sapient Global Markets delivered a desktop solution for data providers to prepare, validate and submit loan-level performance data to the repository, and for data users to access that data from their desktops.
SYSTEM
BUSINESS
OPERATIONS
DATA ORIGINATORS
ECB
DATA USERS,
TOOL PROVIDERS,
RATING AGENCIES,
PORTAL PROVIDERS,
ECB,NCBS,
EURO SYSTEM
VERIFICATION RULES
CREDENTIALS
Quality and Metrics
Reports Save
Search
Downloaddata
SIGNED XML
VERIFICATIONS
Generate ReportsLogin
Publish
Processes
User
Registration
Helpdesk
Operations
EUROPEANDATA
WAREHOUSE
Login
CREDENTIALS
ECS
Objects
User
Registration
Incident ManagementMonitoringQuery Management
Euro SystemCollateralFramework
System Interactions
Main Data FlowManual Processes
Data Store
Detailed Activities
User Creation
and Maintenance
Veri�cation
Get Veri�cation
ResultsSIGNED XMLUpload data
SIGNED XMLLogin
CREDENTIALS
Sales
Software
Application MaintenanceMonitoringQuery Management
Account ManagementClient Acquisition
Finance
BillingBusiness Management
Following the 2007/2008 economic crisis, there was an increased need to improve transparency and restore investor confidenceintheEuropeansecuritizationmarket.In2009,thestructuredfinanceindustry,spearheadedbytheEuropeanCentralBank(ECB),cametogethertoaddresstheproblem.TheireffortsresultedinavisiontocreateaEuropeancentraldatarepository that would provide visibility and timely access to standardized loan-level data provided by originators to all market participants.In2010,theECBtookthenextstepbyannouncingitsintentiontoestablishloan-leveldatarequirementsinordertopledgeABSascollateralintheEurosystem.TodaythatvisionisarealitywiththeEuropeanDataWarehouse,designedandbuilt by Sapient Global Markets, now in place to facilitate risk assessment and improve transparency standards for asset backedsecurities(ABS).
Sapient Global Markets also played a critical role in the formation of the European DataWarehouse organization, from defining business processes, customer onboarding to developing the corporate website, establishing the office in Frankfurt and hiring and training staff.
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EUROPEAN DATAWAREHOUSE ENABLINGTRANSPARENCYINTHEEUROPEANABSMARKET
ResultsSinceitslaunchonJanuary3,2013,theEuropeanDataWarehouse organization and platform has played a key roleinreshapingtheEuropeanABSmarket.Theinitiative’simpact has received industry recognition, winning the Banking Technologyawardfor“BestIndustryInfrastructureInitiative”in2012,forhelpingtoestablishtheEuropeanDataWarehouse as a model implementation for market utility infrastructure globally.
Today,theEuropeanDataWarehouseishelpingto:
• CreategreatertransparencythroughouttheEuropeanmarkets for structured credit products by collating deal, bond and loan-level ABS information into a single, centralized database
• RestoreinvestorconfidenceinABS• ImproveliquiditybyusingABSascollateralinthe
Eurosystem
Functioning independently under the leadership of the appointed management team and oversight from its supervisory board, the European DataWarehouse hosts ECBeligibleandnon-eligibleABSdeals.AsofJuly2014,morethan800ABSdealswerecreated.TheEuropeanDataWarehousecurrentlystores511RMBSdealswithover12millionloansorloanparts,126SMEdealswitharound1.3millionloansorloanparts,aswellas154otherABSconsumerdealswithalmost18millionloansorloanparts.
Sapient Global Markets continues to work with the EuropeanDataWarehousetoimproveEdwin,ED’s software, for new instruments and provide maintenance and support for the technology platform as well as the corporate website.
Sapient Global Markets, a division of Sapient® (NASDAQ:SAPE),isaleadingproviderofservicestotoday’sevolvingfinancialandcommoditymarkets.We provide a full range of capabilities to help our clients grow and enhance their businesses, create robust and transparent infrastructure, manage operating costs, and foster innovation throughout their organizations. We offer services across Advisory, Analytics,Technology,andProcess,aswellasuniquemethodologiesinprogrammanagement,technology development, and process outsourcing. Sapient Global Markets operates in key financial and commodity centers worldwide, including Boston, Chicago,Houston,NewYork,Washington,D.C.,Calgary,Toronto,London,Düsseldorf,Frankfurt,Geneva, Munich, Milan, Zurich, and Singapore, as well as in large technology development and operations outsourcing centers in Bangalore, Delhi, and Noida, India.www.sapientglobalmarkets.com.
©2014SapientCorporation. TrademarkInformation:SapientandtheSapientlogoaretrademarksorregisteredtrademarksofSapientCorporationoritssubsidiariesintheU.S.and other countries. All other trade names are trademarks or registered trademarks of their respective holders.
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Dr. Stefan NaumannDirector, Sapient Global Markets
[email protected]+49(0)69505060587
ICONIC ILLUSTRATION
TECHNOLOGY 1
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TECHNOLOGY 2
Contact Sapient Global Markets For More Information.
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