Algorithmics launches Algo Risk on Bloomberg

Algorithmics, the Toronto-headquartered provider of risk management software, has launched its Algo Risk risk management application, a product developed in partnership with news and information provider Bloomberg.

Algo Risk is a market and trading risk system that provides users of Bloomberg's trade order management system (Toms) and portfolio order management system (Poms) with access to pre-integrated risk management capabilities offered by Algorithmics.

Algo Risk allows users to carry out real-time risk reporting for intra-day analysis, evaluate securities under stress, historical and Monte-Carlo scenarios and is pre-populated with positions, benchmarks, portfolio hierarchies and scenarios.

Algorithmics initially announced its decision to enter into a partnership with Bloomberg in January last year. The pair released Algo Data Loaders for Bloomberg Data last November, allowing Algorithmics’ existing clients to populate its Algo Suite risk management product with market and securities data available through Bloomberg's data-licence product. However, this is the first major product, launched through the partnership, to deliver risk management functionalities to the wider buy- and sell-side market.

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