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 spin-off, Cygnifi.
The analytics library – ALIB - is a set of over 500 C/C++ derivatives analytic functions, from simple date routines to sophisticated one and two factor trinomial tree models for valuation and risk analytics.
GlobeOp chief operating officer, Tom Deegan, said the functionality extends the company's ability to provide market standard pricing and risk reporting capability for fixed income to its global client base of hedge funds and other asset managers.
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