RVS Submitter+ Service
RVS Submitter+ Service is a rate calculation and submission service that assists individual banks with their IBOR/Benchmark rate submission requirements.
The RVS Submitter+ Service translates recommended changes to underlying benchmark submissions into an independent, fully automated, deployable solution. RVS Submitter+ is a neutral and transparent service that helps to remove questions of manipulation and malpractice by the banks.
RVS Submitter+ Service has been designed to support all required instruments and asset classes, using a range of data sources. Depending on the specific rate set created and industry defined governance rules, a mix of quantitative (i.e. transactions, bids/offers etc.) and qualitative data (i.e. calculated data from curves, interpolation, correlation etc.) as well as expert judgement (i.e. trade submitted prices without supporting, transactional evidence) is used to calculate the rate set.
Using transparent, industry-defined governance rules, certainty indexes are calculated for each rate set, to identify the volume, consistency and correlation of any underlying evidence. In addition, the RVS Submitter+ Service uses an “assurance scale” to support the certainty index where there may be no evidence available, but confidence in the submission is still high.
Using RVS Submitter+ Service, rules governing the calculation of the rate set (including the banks whose data has been used as evidence) and the calculation of the certainty index, are all transparently available to all stakeholders.