FundsXML France

FundsXML eventFundsXML event

FrankfurtFrankfurt24 May 201124 May 2011

Introduction to FundsXML France

• In 2000, creation of the DIAMSIn 2000, creation of the DIAMS11 working group working group composed of Asset Management specialistscomposed of Asset Management specialists

• Its ambition was to ease data exchanges between Its ambition was to ease data exchanges between industry playersindustry players

• In 2004, the WG has been transformed into a non-profit In 2004, the WG has been transformed into a non-profit organizationorganization

• Main activities : creation and maintenance of a business Main activities : creation and maintenance of a business dictionary and of standardized messages, both based on dictionary and of standardized messages, both based on the XML technologythe XML technology

• Given the similarity of goals and methodology, DIAMS Given the similarity of goals and methodology, DIAMS has joined FundsXML in 2009.has joined FundsXML in 2009.

• Its new denomination is now FundsXML FranceIts new denomination is now FundsXML France

1 Distribution and Integration for Asset Management Systems

FundsXML in France

• For cultural and historical reasons, XML in general and For cultural and historical reasons, XML in general and FundsXML are not much used by the French Asset FundsXML are not much used by the French Asset Management industry, except for internal purposes (e.g. Management industry, except for internal purposes (e.g. for data uploading to websites)for data uploading to websites)

• Nevertheless, some opportunities of development Nevertheless, some opportunities of development appear:appear:– KIID (model proposed by FundsXML France, now integrated into KIID (model proposed by FundsXML France, now integrated into

the FundsXML model)the FundsXML model)– Project of a Funds database for the French market. This Project of a Funds database for the French market. This

database will be based on the FundsXML model.database will be based on the FundsXML model.– Message for communication to insurance companies of the Message for communication to insurance companies of the

information requested by the new regulation Solvency IIinformation requested by the new regulation Solvency II

Message for "Solvency II"

• Solvency II: a new regulation which imposes new Solvency II: a new regulation which imposes new reporting requirement from AM companies to their clients reporting requirement from AM companies to their clients insurers.insurers.

• Insurers have to calculate their "solvency capital Insurers have to calculate their "solvency capital requirements" or SCRs to face several types of risks, requirements" or SCRs to face several types of risks, depending on the sectors of their balance sheet. depending on the sectors of their balance sheet.

• The calculation must comply with sophisticated rules The calculation must comply with sophisticated rules integrating assets and liabilities into a consolidated view. integrating assets and liabilities into a consolidated view.

• On the AM companies' side:On the AM companies' side:– Obligation to provide the SCRObligation to provide the SCRMarket Market according to the different according to the different

categories of assets (equities, interest rate, forex,…) and risks.categories of assets (equities, interest rate, forex,…) and risks.– Special attention to granularity of information transmitted to Special attention to granularity of information transmitted to

insurersinsurers

For further information

• See our website www.fundsxml.frSee our website www.fundsxml.fr

• EmailEmail contact@fundsxml.frcontact@fundsxml.fr