Bear Stearns to implement new risk reporting data system

Prompted by increased trading volumes and regulation, Bear Stearns is currently in the final stages of testing a data management system for use in its risk reporting.

The US bank says that the system, developed by Oregon-based data management specialist GemStone Systems, should speed up its global clearing and settlement risk group’s daily risk reporting.

“We needed high performance, scalability and aggregate reliability to match our trading and risk computing cluster,” said Peter Cherasia, chief information officer (CIO) at Bear Stearns in New York.

A spokesman for GemStone told RiskNews that its system enables customers such as Bear to increase trading volumes many times over. Bear declined to comment on precisely when the risk system will go live.

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