Extended Viewer

Practical Applications from the Experts - October 2009

categories: Product Documentation, general

Web Services

Web Services allows clients to interact directly with RiskMetrics analytics, portfolio storage services and terms and condition database allowing for tighter integration with a client’s internal applications, processes and data warehouses.

As an example, when a report is run in RiskManager, a query is sent to our analytics grid for calculation. Using Web Services, clients bypass RiskManager, send queries to the same analytics grid and receive responses directly into their own software applications.

Advantages of using Web Services for analysis include:

  • Faster round trip processing time
  • “On Demand” access to RiskMetrics services
  • More control of batch risk processing
  • Leveraging existing RiskMetrics architecture which is inherently scalable

In addition to Risk Analytics Web Service, we currently provide:

  • Terms and Conditions Enrichment Web Service
    • With a position identifier, fills in full terms and conditions for positions from RMG security master database.
  • Portfolio Storage Web Service
    • Analysis can be run against pre-loaded positions and benchmarks, no need to re-send data. RiskMetrics can also upload on behalf of clients.
  • What-If Web Service
    • Calculates the risk impact if a portfolio’s composition were to change.
  • Historical Results Storage Web Service
    • Storage of past analysis results.

Integration with our Web Service platform is based on open Web Service standards which include HTTP, XML and SOAP. The use of open standards ensures security, faster integration and inter-operation across different systems.

Example Applications of Web Services include:

  • Business Process Integration (workflow and decision making)
  • Integrate RiskMetrics data with Enterprise wide systems (Risk information webpage)
  • Integration with Desktop Tools (Excel, trading desk tools)
    • As an example, the screenshot shows a What-If analysis run in Excel
    • RiskMetrics Web Service is embedded into the spreadsheet using Visual Basic
    • Desired Risk Parameters are defined, as well as a Fund and position to add for What-If analysis
    • Selecting the “Run What-If” button runs the Risk Parameters against the Fund and What-If position – a query is sent to Web Services
    • From the Web Services query results, the current VaR as well as What-If VaR is presented in the results cells

To help get clients started, we provide code examples in Java, .NET and Python. Please contact RiskMetrics for full details.


Download file

Full Download - Client Only
Full Download - Client Only