JMMB Adopts Bloomberg Solutions to Streamline Risk Management

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Jamaica Money Market Brokers (JMMB) has adopted Bloomberg’s MARS (Multi-Asset Risk System) solution for market risk.

JMMB uses MARS to calculate VaR, stressed VaR and for custom scenario analysis across their instruments and portfolios.

The company’s adoption of MARS follows Bloomberg’s introduction of coverage of the following Caribbean currencies: Jamaican dollars (JMD), Trinidad and Tobago dollars (TTD) and Dominican peso (DOP).

Bloomberg’s coverage of local currency denominated securities, combined with the depth of its data and MARS risk analysis, provides JMMB with a solution to help manage its general risk monitoring requirements.

Additionally, MARS enables JMMB to model and manage off-balance sheet securities risk while allowing teams to seamlessly access information from anywhere in the region.

“The MARS solution has allowed us to streamline and improve our market risk management processes across the group, with on-demand detailed risk analytics, which has enabled our teams to become more proactive in managing the group’s investment portfolios,” said Keith Duncan, JMMB Group CEO. “This builds on our long-standing use of Bloomberg and enables our teams in different jurisdictions to work more cohesively with a consistent enterprise-wide approach to market risk management.”

Jose Ribas, Global Head of Risk and Pricing Solutions at Bloomberg LP, said, “We are delighted to support JMMB with our MARS Market Risk solution, which enables risk managers to immediately assess the true impact of trading on the risk profile of a financial institution’s books. or the portfolios of its clients. This enables financial institutions to more consistently make more informed decisions, reduce risk and improve execution for customers.

Bloomberg MARS is a comprehensive suite of risk management tools that delivers consistent, consolidated results across businesses, powered by Bloomberg’s widely adopted pricing library, market and benchmark data, and feed engine mortgage cash. MARS is available in the following versions: front office, market risk, credit risk, collateral management and XVA.

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