Algorithmics strengthens European connection

TORONTO - Canadian risk management software company Algorithmics said in October that Denmark-based Danske Bank had licensed its Algo Collateral software system to manage their over-the-counter derivatives and repo-margining activities. An Algorithmics spokesperson said they expected the software to go live at Danske Bank by the end of January 2003.

Algo Collateral is designed to reduce operational and credit risk, while simultaneously providing cost-effective support throughout the entire collateral management process, Algorithmics said.

Danske Bank is the first Scandanavian user of Algo Collateral. The product now has over 35 customers globally.

Separately, Algorithmics announced a partnership with German financial services company Commerzbank to develop a new component of the Algo OpRisk Analytics module, an enterprise-wide system for

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