Lombard launches collateral management application
London-based risk management software company Lombard Risk Systems yesterday launched FirmRisk Collateral, a collateral management application developed for financial and non-financial institutions.
As the number of institutions trading OTC products on a collateralised basis continues to increase, there will be an increased need for specialised management systems, Lombard added. Spending on collateral management technology is expected to grow significantly in the next few years, with spending estimates reaching $134 million by 2005.
Although Lombard has yet to sign up a client for the new product, it is in talks with a number of banks, hedge funds and corporates interested in signing up FirmRisk Collateral.
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