Abbey National selects Algo Collateral
Abbey National has licensed Algo Collateral from Canadian risk technology provider Algorithmic. The UK bank will start implementing the technology in London immediately.
“The centralised margining framework offered by Algo Collateral was an important component in our decision,” said Nathan Bostock, head of treasury services at Abbey National. Bostock added that Abbey National also licensed the technology due to its perceived “low project implementation risk”.
Neither company released the financial terms of the contract.
A total of 43 financial institutions have licensed Algo Collateral.
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