Request a demo

Resources

Briefs, guides, white papers,
case studies.

Product briefs you can forward, practical guides to the rules and the calendar, white papers and articles on the problems behind XVA, capital and counterparty risk, and case studies on the use cases Norma is built for.

Request a demo Benchmarks

Product briefs

First page of the Norma Pricing product brief, preview
Product brief

Norma Pricing

Pre-trade XVA impact and capital-aware quotes. What it does, how it is delivered, what sits on the platform. Two pages.

Preview and request the PDF
First page of the Norma Capital product brief, preview
Product brief

Norma Capital

SA-CVA, BA-CVA, SA-CCR and KVA. What it does, how it is delivered, what sits on the platform. Two pages.

Preview and request the PDF
First page of the Norma Exposure product brief, preview
Product brief

Norma Exposure

PFE, limits, what-if and stress. What it does, how it is delivered, what sits on the platform. Two pages.

Preview and request the PDF
First page of the Norma Market Risk product brief, preview
Product brief

Norma Market Risk

VaR, drilldown and attribution, live. What it does, how it is delivered, what sits on the platform. Two pages.

Preview and request the PDF

Guides

First page of The CVA, counterparty risk and FRTB calendar, 2026 to 2028, preview
Guide

The CVA, counterparty risk and FRTB calendar, 2026 to 2028

For heads of capital and risk planning the next two years: every date that changes a derivatives bank's capital or counterparty-risk obligations, by jurisdiction, with what each one demands of the engine.

Preview and request the PDF
First page of Counterparty risk under stress, integrating PFE, what-if and XVA, preview
Guide

Counterparty risk under stress, integrating PFE, what-if and XVA

For heads of counterparty risk and XVA desks: why exposure, limits and XVA should come from one simulation, how to run what-if and shocks on the live book, and what supervisors expect to see when markets move.

Preview and request the PDF

Articles

First page of Pre-trade XVA for the sales desk, what the quote has to carry, preview
Article

Pre-trade XVA for the sales desk, what the quote has to carry

For sales and XVA desks: the three costs a quote on an uncollateralised trade has to carry, why many desks still call the XVA desk, and what an engine must do to put the XVA impact in the quote.

Preview and request the PDF
First page of What supervisors now expect of counterparty credit risk, preview
Article

What supervisors now expect of counterparty credit risk

For heads of counterparty risk: the ECB's 43 sound practices, the 2025 exploratory scenario exercise and the Archegos lesson, translated into what the exposure engine has to do before the trade and when markets move.

Preview and request the PDF
First page of XVA for investment managers, insurers and corporates, preview
Article

XVA for investment managers, insurers and corporates

For investment managers, insurers and corporates: IFRS 13 puts CVA and DVA in every fair value, and every bank quote already carries XVA. What each kind of institution needs, and why it is accounting and transparency, not capital.

Preview and request the PDF
First page of Capital in the quote, SA-CCR and KVA at the point of trading, preview
Article

Capital in the quote, SA-CCR and KVA at the point of trading

For XVA desks and sales: lifetime capital is a real cost of a derivative. What SA-CCR and KVA at the point of trading require, why many desks price capital by rule of thumb, and what changes when it is in the quote.

Preview and request the PDF

White papers

Sent as PDF on request, with a company email.

First page of SA-CVA or BA-CVA, which approach is cheaper depends on the book, preview
White paper

SA-CVA or BA-CVA, which approach is cheaper depends on the book

For heads of capital: why many banks chose BA-CVA, when it costs them capital, when SA-CVA is not cheaper, what the published impact figures say, and how to settle it on your own book within days.

Preview and request the PDF
First page of Why CVA sensitivities were unaffordable, and what changed, preview
White paper

Why CVA sensitivities were unaffordable, and what changed

For quants and capital teams: the arithmetic that made CVA sensitivities a project rather than a run, what changed, and the four things a bank can do once full sensitivities are routine.

Preview and request the PDF
First page of FRTB P&L attribution, an alignment problem, preview
White paper

FRTB P&L attribution, an alignment problem

For heads of market risk: the P&L attribution test decides internal-model approval, desk by desk. Why it is an alignment problem between the risk model and the front office, and where live aggregation helps.

Preview and request the PDF

Case studies

Sent as PDF on request, with a company email.

First page of Centralised XVA in near real time, preview
Case study

Centralised XVA in near real time

For XVA desks and trading technology: one XVA calculation for pricing, hedging and risk, in near real time, replacing the overnight batch and the three sets of numbers that come with it.

Preview and request the PDF
First page of Full CVA sensitivities, daily, before the SA-CVA decision, preview
Case study

Full CVA sensitivities, daily, before the SA-CVA decision

For XVA desks and capital teams: CVA sensitivities to every risk factor on the whole book, every day, so the desk hedges CVA instead of watching it, and the SA-CVA application is made on the book's own numbers before the 2027 deadline.

Preview and request the PDF
First page of Counterparty exposure before the trade and under stress, preview
Case study

Counterparty exposure before the trade and under stress

For heads of counterparty risk: PFE, limit usage and SA-CCR exposure a trade adds to its netting set before it is booked, and the same exposures re-run under stress when markets move, as supervisors now ask.

Preview and request the PDF
First page of VaR, expected shortfall and FRTB standardised capital by desk, live, preview
Case study

VaR, expected shortfall and FRTB standardised capital by desk, live

For heads of market risk and risk technology: full-portfolio VaR and expected shortfall re-aggregated on demand on the P&L vectors the bank already produces, and FRTB standardised capital by desk from the sensitivities, recomputed as the book changes.

Preview and request the PDF
First page of Corporates, energy and commodities: your own XVA on every bank quote, preview
Case study

Corporates, energy and commodities: your own XVA on every bank quote

For corporates, energy and commodity firms: an independent XVA to check bank quotes against as the CVA capital exemption for corporates ends, CVA and DVA for IFRS 13 fair value, and counterparty exposure across the hedging book where credit terms and margining drive the cost of hedging.

Preview and request the PDF

Also on request

Technical note

Benchmark and validation note

The models validated against reference implementations, and the measured timings behind the three published numbers.

RequestSample

Capital Study, sample report

What the Capital Study delivers, shown on a synthetic rates and FX book: both approaches side by side, hedge benefit and attribution by netting set and counterparty.

RequestChecklist

Capital Study data checklist

Trades, netting and CSA terms, credit inputs and the market-data snapshot, one as-of date, so the study can start the day the files arrive.

Request

Related

Get in touch

Request a demo on your own trades, or just talk to us.

Request a demo Contact us