Licensed ISDA SIMM™ Vendor


Cumulus9 Becomes a Licensed ISDA SIMM™ Vendor

London, 20 October 2023 — Cumulus9 Limited, a leading risk analytics platform for derivatives market participants, is proud to announce a major milestone - becoming a licensed vendor of the ISDA Standard Initial Margin Model (ISDA SIMM™). This significant development positions Cumulus9 at the forefront of risk management technology in the derivatives market.

The integration of ISDA SIMM™ into Cumulus9's platform represents a leap forward in the company's offering, providing users with an even more comprehensive risk management tool. ISDA SIMM™ is an industry standard methodology for calculating regulatory initial margin for non-cleared derivatives, making it an essential component for financial institutions navigating the complexities of derivatives trading.

“Obtaining the license for ISDA SIMM™ is a major milestone for Cumulus9. It not only enhances our platform's functionality but also aligns with our mission to deliver state-of-the-art risk management solutions to our clients. This integration is a testament to our commitment to innovation and excellence in the financial technology sector.”

Giuseppe Fiocco
Giuseppe Fiocco – Founder and Managing Director

Cumulus9's platform, now equipped with the latest version of ISDA SIMM™, SIMM 2.6, offers unparalleled accuracy and compliance in margin calculation. The certification of Cumulus9's SIMM calculator by ISDA for passing the rigorous Unit Tests for SIMM 2.6 underscores the platform's reliability and precision.

“This achievement is more than just a technical upgrade; it's about providing our customers with a cutting-edge tool that addresses the evolving needs of the derivatives market. Our platform now offers a holistic approach to risk management, encompassing a wider range of asset classes and margin calculations for uncleared derivatives.”

Rafik Mrabet
Rafik Mrabet – Managing Director

Cumulus9 is dedicated to continually enhancing its platform to meet the dynamic demands of the financial markets. With the integration of ISDA SIMM™, Cumulus9 reaffirms its position as a leader in innovative risk management solutions.

ISDA plays a crucial role in the global derivatives market, and its development of ISDA SIMM™ is a key part of this contribution. ISDA SIMM™ is designed to standardise margin calculations, reduce disputes among market participants, and ensure compliance with regulatory requirements. As such, it has become an essential tool for market participants to manage and mitigate counterparty credit risk in the derivatives market.

For more information about Cumulus9 and its ISDA SIMM™ integration, please contact