April 4, 2024
Luxoft, a DXC Technology Company, is delighted to announce its strategic partnership with Kynec, a leading provider of front-office clearing solutions, to deliver consolidated margin positions across global OTC cleared and bilateral markets. This collaborative effort will leverage the combined strengths, market reputations, extensive experience, and capabilities of both organizations to deliver innovative solutions to clients worldwide.
Luxoft will contribute its deep expertise in system integration and its robust hosting capabilities to deploy the Rubicon platform. Drawing on its global presence and proficiency, Luxoft will serve as a trusted managed services partner, offering hosting and operation of the Kynec Rubicon platform on its cloud platforms.
Kynec’s Rubicon platform brings clients insight and control over their firmwide collateral to improve P&L and operational resilience. Rubicon consolidates margin positions across multiple CCP and bilateral CSA. Its extensive dashboards alert users to opportunities to optimize collateral funding, liquidity and initial margin. Rubicon’s workbench tools enable online deep-dive analysis and flexible reporting all within a controlled environment.
Robert McWilliam, CEO, Kynec, states: “We’re very excited to form a strategic alliance with Luxoft. We were looking for an integration and hosting partner that had capabilities and experience with the high performance and data standards that large financial institutions require. Luxoft, has a solid reputation in both, with a very strong heritage in integrating across complex source systems.”
“At Luxoft, we've diligently built an ecosystem of like-minded partners who share our vision for the financial services industry. We prioritize time-to-market, price transparency, flexibility, and compliance while fostering innovation. Our partnership with Kynec reflects this commitment and expands Luxoft’s ecosystem of value-added solutions. This collaboration aims to accelerate innovation in financial services, driving the future of data-driven decision-making.” said Mark Perkins, Global Offering Lead, as-a-Service Solutions, Luxoft.
About Luxoft
Luxoft, a DXC Technology company, is a leading expert in banking software solutions with over 40 years’ expertise in bespoke software development for banking, lending, payments wealth management and core modernization. Combining expertise in data analytics, digital product design, banking software engineering and automation services, Luxoft helps financial institutions navigate the increasingly complex operational and regulatory environment and fully adapt to the software-defined future. We are committed to building resilient businesses, creating new revenue streams, delivering exceptional user experiences, and modernizing operations at scale. For more information, please visit www.luxoft.com.
About Kynec
Founded by XVA traders to solve the collateral liquidity, funding, and optimization problems they faced in their day-to-day work.
Too much time spent gathering data and working with incomplete data inspired us to take a new approach to managing margin. Our Rubicon platform is your single connection to the margin marketplace extracting data from multiple CCPs and bilateral collateral pools before transforming it into timely, actionable information. Importantly, we deliver the information you need to improve your collateral P/L across all your CCP, Broker and bilateral agreements.
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