ORX database expected early next year
LONDON - The operational risk loss database run by the Operational Riskdata eXchange Association (ORX), a consortium formed by 12 international banks to pool their op risk data confidentially, is expected to begin operating around the start of February, 2003 - more than six months later than originally planned. But Fred Peemöller, ORX executive committee chairman, expects the Zurich-based pooling venture to become the world’s primary interbank op risk loss database despite the delay.
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