Reuters has paid $41 million for Application Networks, a risk management software specialist.Application Networks, based in London and Palo Alto, California, produces the JRisk derivatives trading platform. JRisk, used by several investment banks including JP Morgan, Societe Generale and UBS, provides trade analysis, processing and documentation for forex, credit, equity, interest rate and hybrid derivatives.
It will be rolled into Reuters' trade and risk management group, which provides trading and risk management software to traders, risk chiefs and operations managers. The JRisk software will be combined with Reuters' existing Kondor + deal capturing and pricing system.
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