Newsletter March 2020

COMPIRICUS Newsletter July 2019

Dear Sir or Madam,

"It is not because things are difficult that we do not dare, it is because we do not dare that they are difficult," the Roman philosopher, naturalist and politician Seneca once considered. The high-tech company Google, in cooperation with SAP, recently “dared” to develop and initially implement a new hedge solution based on SAP S/4HANA Treasury. It turns out that hedge accounting with SAP has rarely been as easy as it is today. In this issue of our customer magazine you can find out what this means in concrete terms and what COMPIRICUS' responsibility was for the co-innovation project. Other topics include:

  • COMPIRICUS Investment Forecaster – new SAP Cloud Platform app for calculating investment scenarios for your capital investments
  • COMPIRICUS Treasury Data Hub – app for the automatic SAP Treasury data distribution in other of your company’s SAP systems
  • The reform of the reference interest rate and its significance for your processes and systems
  • New division at COMPIRICUS “Corporate Treasury”

Google's new hedge solution based on SAP S/4HANA

In November last year, Google and COMPIRICUS gave a joint presentation at the "SAP Conference for Treasury Management" in Chicago on the implementation of new requirements for hedge management and hedge accounting based on SAP S/4HANA. In detail, it was shown:

  • What challenges the team had to face and how they could be successfully solved,
  • What changes were necessary for a best-in-class solution,
  • What advantages the organisation has gained through implementation

As part of this co-innovation and implementation project, COMPIRICUS was responsible for foreign exchange transactions, derivatives, long-term liabilities, risk management and hedge accounting. If you would like to learn more about the project itself or the COMPIRICUS hedge offering, we are always available for a personal discussion.

Do you have any questions?

+49 211 64949-301 oder sales@compiricus.com

You can find initial information on our hedge management website:

Hedge Management / Accounting with SAP


COMPIRICUS Investment Forecaster - new SAP Cloud Platform app for calculating investment scenarios for your capital investments

We offer companies such as insurers, pension funds, capital investment companies and also corporates that work with highly complex asset and liability portfolios a solution for the automated calculation of resilient investment scenarios. The COMPIRICUS Investment Forecaster is a SAP Cloud Platform app that allows you to perform reproducible projections based on your own market assumptions automatically. Imprecise investment scenarios and consequently unfavourable investment decisions are a thing of the past.

Do you have any questions?

+49 211 64949-301 oder sales@compiricus.com

You can also find a first impression on the website:

COMPIRICUS Investment Forecaster


Conversion of the EURIBOR reference interest rates is proceeding largely without any problems - system adjustments only necessary at a later date.

Since the beginning of the year, a major step in the conversion of the European benchmark interest rates has been in effect: the EURIBOR rates are now no longer based exclusively on the actual traded interbank rates on the respective day, but are calculated using a multi-level calculation logic. This so-called “hybrid” method includes not only the rates of the money market transactions from the previous day, but also longer-term activities on the money market, and thus meets the requirements of the EU Benchmark Regulation (Benchmark Regulation).

Comparative calculations show that the "new" EURIBOR rates are a few base points below the previous values. For the 3-month term there is an average difference of three base points (0.03%). The fluctuation margin of the hybrid calculated rates is also somewhat higher.

The conversion of the calculation logic alone makes an adjustment of the systems in the financial area initially superfluous, since the EURIBOR can still be supplied by the market data providers without formal changes and the contracts underlying the financial products such as variable-rate bonds or interest rate swaps do not need to be touched.

However, experts anticipate that the EURIBOR structure will be completely replaced in the medium term, just as is the case with the similarly authoritative LIBOR rates worldwide and which are set on the London money market. Here it is expected that the Euro Short-Term Rate €STR, which was introduced in October 2019, will form the basis not only for the overnight rate EONIA, as has already been done, but also for the longer maturities of up to 12 months.

This means that the need for a system adjustment has not been eliminated, but only postponed. At the latest when a futures market develops on the basis of the €STR, market participants believe that the “new” EURIBOR will also disappear due to a lack of liquidity - and thus the market data and financial products based on it will have to be adjusted in the systems.

As a result of many years of experience with a multitude of financial instruments, COMPIRICUS is familiar with the mapping of the new requirements. Whether it is the implementation of automated overnight fixings, the setting of new calculation methods or the efficient adjustment of your portfolio to interest transactions - we will be happy to advise you on the conversion of your processes and SAP systems.

+49 211 64949-301 or Thomas.Buettner@compiricus.com

You can find more information on our website:

Market and risk assessment with SAP TRM


How to supply your SAP systems automatically with current market, master and transaction data from the "Golden Client"

Would you like to regularly transfer treasury data such as market, master or transaction data to another system or other clients? Perhaps you already have an S/4HANA Treasury Greenfield system that also needs to be supplied with the latest data? Do you want to be selective in your data distribution and only take current data into account? Do you also want to avoid manual work, not least because of the high error sensitivity, by using an automated process?

The COMPIRICUS Treasury Data Hub for SAP TRM supports you here and works as follows (click to enlarge):

Do you have any questions? Would you like a demo? Talk to our data management experts.

+49 211 64949-301 oder sales@compiricus.com

Further information can also be found here:

COMPIRICUS Treasury Data Hub


On our own account: New COMPIRICUS Corporate Treasury division

We are pleased to introduce our “COMPIRICUS Corporate Treasury” business division: this division specialises in consulting solutions relating to treasury, cash management and payment transactions for industrial customers with a strong focus on an agile strategy for SAP S/4HANA migration. The division is headed by Regina Meder. Previously, she successfully supported various companies at COMPIRICUS for several years, including the introduction of the SAP Treasury solution.

Do you have any questions?

+49 211 64949-301 oder sales@compiricus.com

Further information about the SAP S/4HANA migration can be found here:

COMPIRICUS Service Package Release Change SAP S/4HANA Treasury