
JP Morgan Chase launches buy-side risk management product
MorganRisk, which will be beta tested in July, will initially cover a number of vanilla instruments, including equities, vanilla equity derivatives, fixed income, vanilla interest rate and foreign exchange derivatives, commodity derivatives and most mortgage-backed securities. The bank plans to expand the coverage after the intial launch period to include non-vanilla derivatives.
Clients can access the service on a number of different levels, from a basic set of risk exposure reports on a pre-determined schedule to on-demand reporting and online analysis for a number of users.
"MorganRisk will provide all the necessary market data and will use valuation models developed by traders, rather than by academics," said Lesley Daniels Webster, executive vice-president and head of market risk management at JP Morgan Chase. "The result is a risk service that covers more assets, more accurately than other commercial vendors."
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