Jamaica Money Market Brokers (JMMB) adopts Bloomberg solutions to streamline risk management

Bloomberg today announced that Jamaica Money Market Brokers (JMMB) has adopted its Multi-Asset Risk System (MARS) solution for market risk. JMMB is the first Caribbean-based financial group to adopt MARS Market Risk for regulatory compliance.

JMMB uses MARS to calculate Value-at-Risk, stressed Value-at-Risk and for customised scenario analysis across their instruments and portfolios. The firm’s adoption of MARS follows Bloomberg’s introduction of coverage for the following Caribbean currencies: Jamaican dollars (JMD), Trinidad and Tobago dollars (TTD) and the Dominican Peso (DOP). 

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

Additionally, MARS allows JMMB to model and manage risk for off balance sheet securities, while enabling teams to seamlessly access the information wherever they are located in the region.  

“The MARS solution has afforded us the ability to streamline and enhance our market risk management processes across the Group, through detailed on-demand risk analytics, which has allowed our teams to become more proactive in the management of the Group’s investment portfolios.”  said Keith Duncan, CEO of the JMMB Group. “This builds on our long-standing use of Bloomberg and enables our teams across 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 L.P. said: “We are delighted to support JMMB with our MARS Market Risk solution, which allows risk managers to immediately assess the real impact of a trade on the risk profile of a financial institution’s books or its client’s portfolios. This allows financial institutions to make better informed decisions more systematically, reduce risks and improve execution for clients.”

Bloomberg MARS is a comprehensive suite of risk management tools that delivers consistent, consolidated results across entire firms, powered by Bloomberg’s widely adopted pricing library, market and reference data and mortgage cash flow engine. MARS is available in the following versions: Front Office, Market Risk, Credit Risk, Collateral management and XVA.