Major South African firms renew Algo contracts

The four include three of South Africa's largest financial services institutions - Absa, Nedcor and Standard Bank of South Africa. The fourth is Eskom, the largest electricity supplier in Africa. Absa, Standard Bank and Eskom have signed renewals for Algo Market, while Nedcor's renewal is for an integrated credit and market risk solution with full Algo Suite functionality. Nedcor will continue to use the Mark-to-Future methodology that underlies Algo Suite. This allows for new scenario

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