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TMCNet:  Algorithmics: Algorithmics Wins Credit Technology Innovation Award For Buy-Side Counterparty Credit Risk Management

[November 05, 2010]

Algorithmics: Algorithmics Wins Credit Technology Innovation Award For Buy-Side Counterparty Credit Risk Management

(M2 PressWIRE Via Acquire Media NewsEdge) RDATE:05112010 Toronto, London -- For the second year running, Algorithmics, the world's leading provider of risk solutions, has been awarded a Technology Innovation Award by Credit Magazine. At an award ceremony in New York last night, Credit Magazine recognized Algo Risk Service, Algorithmics managed service which is used primarily by buy-side organizations. During 2010, Algorithmics added new and innovativecounterparty credit risk (CCR) functionality to this web-based risk management and portfolio design service.

Commenting on the award, Dr Andrew Aziz, Executive Vice President of Risk Solutions, Algorithmics, said: We are proud to win this award for Algo Risk Service and to have our new CCR functionality for the buy side acknowledged in this way. Long recognized as the leading provider of market risk and CCR solutions for the banking sector, Algorithmics has worked closely with its Algo Risk Service clients to incorporate this capability into our managed services solution from a buy-side perspective.

We believe that for a buy-side audience, which is traditionally less used to looking at exposure to counterparties as part of a central risk function, providing this as part of an existing managed service is innovative. Simulated exposures (as compared to the simpler current or MtM exposures) offer a new dimension in CCR sophistication for our buy-side clients as they increasingly embrace risk tools traditionally developed for the sell side.

Credit Magazine reported: Toronto-based technology vendor Algorithmics has enhanced the counterparty credit exposure and liquidity risk functionality of Algo Risk Service, its risk management platform aimed at the buy side. Algo Risk Service now provides an integrated approach to managing, monitoring and measuring counterparty credit risk, included as part of its central risk function.

For more information about Algorithmics' award winning and patented solutions, visit: www.algorithmics.com For more information about Algo Risk Service, visit: www.algoriskservice.com Notes to Editors: Credit Magazine is the only magazine that focuses exclusively on the global corporate bond markets. It serves the information needs of a global community of buy- and sell-side credit professionals and aims to be the forum that brings together bondholders, borrowers, banks and investors to discuss and debate the key issues of the market. Launched in 2000, Credit has the benefit of 10 years of experience and expertise in writing about the credit and corporate bond industry.

The Credit Technology Innovation Awards recognize leading developments in technology for the buy- and sell side in the global credit markets during the past year. Now in their third year, these annual Innovation Awards for technology vendors are judged by Credit's editorial team in collaboration with editors from sister publications covering the financial markets, and on the basis of endorsements from industry users.

Algorithmics is the world's leading provider of risk solutions. Financial organizations from around the world use Algorithmics' software, analytics and advisory services to help them make risk-aware business decisions, maximize shareholder value, and meet regulatory requirements. Supported by a global team of risk experts based in all major financial centers, Algorithmics offers proven, award-winning solutions for market, credit and operational risk, as well as collateral and capital management. Algorithmics is a member of the Fitch Group. www.algorithmics.com Algo Risk offers insurers, pension funds and asset managers a fully integrated, flexible platform for assessing future market risk across an organization in a single, consistent, rigorous environment covering all investment strategies across all risk factors and asset classes. It can also be offered as a managed service, Algo Risk Service. It covers both traditional assets and sophisticated, structured products. The Mark-to-Future framework delivers accurate real-time analysis and allows users to assess the impact of a new deal on a portfolio's existing risk profile. It is designed to help firms achieve greater profitability in today's competitive world markets. www.algoriskservice.com Fitch Group is the parent company of Fitch Ratings, a global ratings agency committed to providing the world's markets with independent, timely and prospective credit opinions. With 49 offices worldwide, Fitch Ratings global expertise spans across capital markets in over 150 countries. Fitch Ratings is headquartered in New York and London.

The Fitch Group also includes Fitch Solutions, a distribution channel for Fitch Ratings products and a provider of data, analytics and related services; and Algorithmics, the world's leading provider of enterprise risk solutions.

The Fitch Group is a majority-owned subsidiary of Fimalac, S.A., headquartered in Paris, France.

For additional information, please visit www.fitchratings.com www.algorithmics.com and www.fimalac.com 2010 Algorithmics Software LLC. All rights reserved. ALGORITHMICS, Ai Logo, ALGORITHMICS & Ai Logo, ALGO, MARK-TO-FUTURE, RISKWATCH, KNOW YOUR RISK, ALGO RISK, ALGO MARKET, ALGO CREDIT, ALGO COLLATERAL, ALGO FIRST, ALGO ONE, ALGO FOUNDATION, ALGO FINANCIAL MODELER, ALGO OPVAR and TH!NK Logo are trademarks of Algorithmics Trademarks LLC.

((M2 Communications disclaims all liability for information provided within M2 PressWIRE. Data supplied by named party/parties. Further information on M2 PressWIRE can be obtained at http://www.presswire.net on the world wide web. Inquiries to info@m2.com)).


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