Bear Stearns to implement new risk reporting data system

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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Next-generation technologies and the future of trading

At a webinar in association with capital markets technology provider Numerix, panellists discuss the potential for increased adoption of the public cloud to boost investment performance, its impact on risk management and overcoming barriers to…

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