Sapient Global Markets will offer European investors a new combination of services that will help them meet requirements for communicating loan-level performance data to the European Data Warehouse under the European Central Bank’s (ECB) ABS loan-level initiative.
Under the initiative, loan-level performance data will be required for any assets being used as collateral under the ECB Repurchase Agreements (repo) System. The initiative starts with RMBS, with other asset classes to follow.
“This is a significant shift from existing requirements”, said Randall Orbon, vice president at Sapient. “The challenge for most data providers will be locating, identifying and extracting large volumes of complex data from disparate systems. Not to mention that they will also need to standardize the data to fit the ECB’s asset-specific templates, validate the data content, and create and submit compiled XML files to the European DataWarehouse." Sapient Global Markets is one of the principal constructors of the European Data Warehouse.
Orbon said that the new services offered by Sapient will allow data providers and users to plan, prepare, build and deliver loan-level data within the ECB’s short timeframe.
The services include complex data mapping and enrichment, the conversion of data between formats required by different regulators such as the ECB and Bank of England and the streamlining of two-way communication between regulators and data users through custom built connectivity channels.