What is OPERA?
The Open Protocol Enabling Risk Aggregation (OPERA), also known as The Open Protocol, is a private sector initiative that allows investors to aggregate the risk characteristics of funds in which they invest. There are significant risk analysis and data reporting needs involved in participating in this ambitious initiative. OPERA is a voluntary, cooperative effort, but sophisticated investors are exerting pressure on funds to provide their data and we expect this pressure to increase.
OPERA presents specific new risk and data requirements that may differ dramatically from funds’ current capabilities. SS&C GlobeOp provides full OPERA reporting services, including all necessary risk calculations, data enrichment, data aggregation, and population of the OPERA templates. Our proprietary software enables OPERA reporting for clients world-wide, whether working seamlessly with the financial reporting platforms from SS&C GlobeOp, or drawing information from other sources including prime brokers, custodians, and other administrative systems.
OPERA risk dashboard
Sophisticated investors want more data from their funds. Aggregate the risk characteristics of funds and draw information from multiple sources to create reports for clients world-wide. Find the value at risk by asset type, all in one convenient, accessible, easy-to-read interface.
1. What are your current risk capabilities and resources?
We analyze what gaps exist between a fund’s risk process and OPERA and provide a road map for completing all of OPERA’s risk calculations.
2. How will data be aggregated?
SS&C GlobeOp aggregates and maps fund data into OPERA from any accounting platform. Some data (e.g. investor liquidity information), is also required from the fund manager. SS&C GlobeOp maps this data as well.
3. How will OPERA requirements be tracked going forward?
Risk requirements change over time as markets change and OPERA will undoubtedly evolve. SS&C GlobeOp maintains close contact with members of OPERA’s working group.
4. How can you fit OPERA’s demands into the broader risk environment?
Our goal is to make sure our clients are positioned to respond to both structured and ad hoc demands for risk information from multiple sources, including traders, portfolio managers, regulators, investors, prospective investors, boards, and risk aggregators. We believe an integrated risk solution is best suited to meet these multiple needs, as well as provide the flexibility almost certain to be needed in the future. We work with our clients to structure the best solution for this environment with emphasis on functionality, transparency, and cost effectiveness.