Cardano Risk Management B.V. is the company providing risk management functions to TCX for all operations.
Cardano Risk Management B.V. offers tailored investment and risk management solutions that are based on fundamental use of scenario analyses as primary tool. Cardano believes in a fair society in which financial services improve quality of life and want to contribute to such a society by fighting for a robust financial system that benefits all stakeholders. Cardano strives to deliver better and more secure financial outcomes in a realistic and responsible way.
The Cardano Group was founded in the Netherlands in 2000. After seven successful business years, the company opened an office in the United Kingdom in 2007. Today the Cardano Group has more than 200 employees. Cardano has grown to become a leader in risk management. In 2016, Lincoln Pensions joined the Cardano Group to provide its experience with integrated risk management solutions.
DLM provides systems and back/mid office services, such as valuation, risk management and social impact reporting, to fund managers and other parties that are active in emerging and frontier markets. DLM provides most of these services using the Trade Manager, which is a system specifically built for fund managers in these markets. Another key aspect of DLM finance is its access to market data in emerging markets, valuation techniques to value emerging market portfolios and specific administrative features.
DLM was founded in 2012 in the Netherlands to set-up and manage systems for the back/mid office processes for TCX. DLM was set-up as a company to be able to offer systems and services to more funds involved in emerging and frontier markets and thus help to professionalize this sector. Currently DLM has approximately 10 employees and approximately 30 clients, representing respected financial institutions within the development finance industry.
Since 2009, TCX has partnered with Czech-based macroeconomic consultancy OGResearch to price currency and macroeconomic risks in the most frontier markets. Founded in 2006 by leading experts in the diverse fields of macroeconomics, OGResearch designs unique macroeconomic modeling tools and uses them to construct country-specific medium-term forecasts. A number of the firm’s key professionals had served in senior management roles with national central banks and supranational institutions such as the International Monetary Fund.
OGResearch applied its unrivalled macroeconomic modeling and forecasting expertise to develop the state-of-the-art Forecasting and Policy Analysis System (FPAS). This was originally created by the IMF and the world’s leading central banks for inflation-targeting purposes. OGResearch redesigned the models so these can be used to determine a sound currency price in countries with no reliable economic data and underdeveloped financial sectors.