For market risk
FRTB and expected shortfall punish slow aggregation. Norma Market Risk re-aggregates the full portfolio in real time, from your own P&L vectors, so drilldown, what-if and attribution are questions, not overnight jobs.
EU from 2027; UK standardised approaches from 2027 and internal models from 2028; US re-proposed in 2026 with no date yet. Attribution tests and expected shortfall at desk level need aggregation that does not take a night.
Norma aggregates the P&L vectors your current engine produces; your models stay in place.
Risk-theoretical against hypothetical P&L on the same vectors, recomputed as the book changes, so a desk drifting towards a failed test is visible before the test.
VaR, drilldown and attribution, live
VaR and expected shortfall re-aggregated in real time, drilldown on any dimension, FRTB both approaches, on your own P&L vectors.
BenchmarksPFE, limits, what-if and stress
PFE with and without initial margin, limit usage, what-if and stress, recomputed on demand.
DemoFRTB and expected shortfall punish slow aggregation.
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