Technology
OpVar software upgrade fits Basel QIS
OpVantage, the operational risk quantification provider, has released version 4.0 of its OpVar software. The new version maps its data to the Basel Committee’s Quantitative Impact Study (QIS) loss event categories at level 2.
GFInet launches energy option pricing software
GFInet, a maker of online trading markets, has launched new software designed to standardise options pricing in the energy market.
RiskAdvisory and Softsmith form energy jv
US-based business solutions providers RiskAdvisory Software and SoftSmiths are joining forces to supply the energy industry with a complete electronic transaction system. The integration of RiskAdvisory's Energy Book Runner and SoftSmiths' e-Merchant is…
RMS adds Canadian weather data
Risk Management Solutions (RMS), the California-based provider of products and services for the management of natural hazard risks, has added Canadian temperature data to its Climetrix weather derivatives trading and risk management system.
Kiodex launches web-based risk application
Kiodex, a US-based provider of Web-based risk management solutions for the commodity markets, has launched its flagship risk management application, the Kiodex Risk Workbench. The product is designed to assist corporations in managing their earnings…
Cygnifi files for Chapter 11
JP Morgan spin-off Cygnifi, the New York-based online derivatives service provider, has filed for voluntary Chapter 11 bankruptcy. During its Chapter 11 process, which is expected to take at least 90 days, Cygnifi said it will seek buyers for its assets…
TCG founder steps aside
Terence Chapman, founder of the Terence Chapman Group (TCG), the specialist provider of IT consultancy services to the finance sector, has stepped aside as chief executive.
CMC becomes latest e-FX loser
Currency Management Corporation (CMC), one of the longest-serving firms in the retail and mid-market online FX trading industry, has pulled out of the US. The UK company, which carried out its first online FX trade in 1996, said this was in response to…
Fimat improves online futures system
The Fimat Group, a brokerage unit of Société Générale, has launched a new customisable version of its Web-based customer interface system, Fimacis.
Major South African firms renew Algo contracts
Four of South Africa's leading corporations have renewed market risk management services contracts with Toronto-based risk management solutions provider Algorithmics
DerivaTech appoints Tennola to new COO role
DerivaTech, the Chicago-based currency derivatives software solution provider, has named Paul Tennola chief operating officer (COO), a newly created position.
IntesaBCI selects mpct’s CLS Server
Italy's largest banking group, IntesaBci, has selected mpct Solution’s CLS (Continuous Linked Settlement) Server to power its CLS services, which will run on the Sun Solaris Unix platform at the bank's Milan headquarters.
Isda introduces online information resource
The International Swaps and Derivatives Association (Isda) has introduced a new online information resource for its members called netalytics, which covers the validity and enforceability of the close-out netting provisions of the Isda master agreements…
Patsystems launches mobile access
Trading software designer patsystems has launched a new product that it claims will give traders remote access to all leading derivatives exchanges
DSTi forms trading alliance with SunGard
DST International (DSTi), an order-processing provider to the fund management industry, has formed a strategic alliance with SunGard Trading Systems that will allow fund managers to fully integrate DSTi's portfolio management services with SunGard's…
eAcumen launches weather risk platform
San Francisco-based risk technology firm, eAcumen, has launched the core module of WeatherBook, a quantitative weather risk management platform that prices weather derivatives and simulated portfolios using a proprietary simulation algorithm.
CLS hit by yet more set-backs
CLS (Continuous Linked Settlement) Bank, a financial industry initiative established to mitigate settlement risk in the foreign exchange market, has been forced to once again delay the launch of its service. The latest estimate for the start of CLS…
Indian banks move to upgrade risk technology
A number of Indian banks have been upgrading their risk technology in a bid to meet Reserve Bank of India (RBI) guidelines on prudent risk management practices issued in 1999.
Attacks emphasise need for continuity planning
The terrorist attacks on the World Trade Center on September 11 proved the value of business continuity plans and disaster recovery centres. Much of Wall Street has been able to conduct business with some semblance of normality, although firms like…
Largest Greek bank deploys risk technology
The National Bank of Greece (NBG), Greece’s largest financial institution, has decided to deploy Algorithmics’ Risk Watch application as an enterprise-wide risk management system in an effort to better manage credit and liquidity risks, and capital…
Twist publishes new FX standard and adds members
Twist (the treasury workstation integration standards team), an industry initiative set up to standardise integration between treasury and FX systems, has published the second version of its FX interface standard.
DrKW offers real-time capability on ops/tracker service
Dresdner Kleinwort Wasserstein (DrKW), the investment banking arm of Dresdner Bank, has made new real-time functionality available on ops/tracker, its online settlements enquiry tool.
Daiwa invests in Ubitrade STP system for derivatives
Daiwa Securities has agreed a deal with French solutions provider Ubitrade to install a straight-through-processing (STP) system for derivatives in its London office.
FXall gains Hong Kong regulator approval
FXall, the bank consortium-owned online portal for global foreign exchange trading, will open a representative office in Hong Kong, following approval to operate as a money broker in the city from the Hong Kong Monetary Authority (HKMA). The office, to…