Technology
GlobeOp grabs JP Morgan/Cygnifi fixed-income software
GlobeOp Financial Services, a risk management, operations and administration service provider to the global funds management community, has bought a risk reporting and valuation analytics library, developed by JP Morgan and its now-defunct technology…
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Rolfe & Nolan names new chairman
UK derivatives back-office vendor, Rolfe & Nolan, has appointed John Hamer as its new chairman.
SunGard upgrades ALM tool
SunGard Trading and Risk Systems, an operating group of US technology company SunGard, has released a new version of its asset and liability management (ALM) software, BancWare Convergence.
SAS acquires OpRisk Analytics
SAS, the North Carolina-based data management software vendor, announced that it has acquired the principal assets of OpRisk Analytics, a Connecticut-based operational risk analytics company. It did not disclose financial terms.
Basel II heralds a new ‘golden age’ for risk, says BofE’s Jackson
Basel II is creating a new lingua franca for risk that will usher in a “golden age” of risk management, said Patricia Jackson, special adviser to the Bank of England, at Risk magazine’s Basel II Forum in London today. The debates surrounding the wording…
Law firm launches new collateral legal risk management service
Derivative Services, an affiliate of the international law firm Allen & Overy, has launched a legal risk management service aimed at addressing the complex legal analysis required to take on collateral for derivatives transactions.
GFI targets corporates for options pricing
New York-based inter-dealer broker GFI has launched a new online foreign exchange options pricing service targeting corporates and other lower-volume forex users.
JP Morgan Chase launches buy-side risk management product
JP Morgan Chase is launching a new risk management service, MorganRisk, to enable buy-side clients to gauge market risk in their own investment portfolios using the same proprietary methodologies used by the US bank.
FNX opens South-east Asian hub
FNX, the Pennsylvania-based risk management software company, has established a regional support centre in Bangkok, Thailand.
Numerix launches CompatibL Technologies
New York-based analytics provider Numerix is forming a new company that will seek to accelerate definition and adoption of derivatives systems interoperability standards.
Korea’s Woori Bank installs Reuters’ Kondor+
Korea’s Woori Bank, the country's second largest bank, has signed an agreement with Reuters to use Kondor+ as its risk management tool for derivatives and bond transactions.
SunGard snaps up Reech Capital
US technology company SunGard has acquired Reech Capital, a London-based risk pricing, validation and portfolio valuation technology company. The move is the latest instalment in SunGard’s acquisition spree aimed at making the Pennsylvania-based company…
SuperDerivatives upgrades forex options pricing platform
SuperDerivatives, a London-based foreign exchange pricing company, has upgraded its currency options pricing system.
Abbey National snaps up Op risk solution from Raft
UK bank Abbey National has purchased raft radar, an operational risk management system from London-based software provider Raft International.
Krung Thai Bank taps Reuters for risk system
Krung Thai Bank, Thailand’s largest state bank, has signed an agreement with Reuters, the global information and trading systems company, to provide a real-time trading room risk system and a back-office system to handle its processing and cash…
German mortgage consortium to manage risk with Fermat
German mortgage bank Eurohypo has bought Paris-based Fermat’s risk management suite for regulatory risk, credit risk and asset and liability management.
Egar begins marketing limit server in US
New York-based software developer Egar Technology says it has begun marketing its limit server system in the US. Egar says Egar Limits Server is a real-time, enterprise-wide limit and risk system. Russia’s Alfa Bank currently uses it and Ravi Jain, Egar…
Deutsche Post World Net integrates treasury operations, reduces risk
Deutsche Post World Net, the Bonn-based pan-European logistics provider, has implemented Trema Finance Kit, in a bid to reduce risk and increase operational efficiency. The move is part of an effort to centralise its treasury operations, and the new…
Tower predicts bank IT spending will grow
New research from the Tower Group, a Boston-based consultancy, concludes that despite an intense focus on cost-cutting at banks, IT spending will grow modestly over the next three years. While many believe the banking sector's malaise will continue to…