Technology
Turbo-charged models
Derivatives dealers get a substantial edge if they can model and price positions faster than their competitors. So system vendors are seeking to rev up the Monte Carlo simulation engines that power many of their analytics.
Lighting the fuse
China
Rallying cry for Italy
Italian banks are racing to catch up with their largest US and European competitors in risk modelling. Inspired by Mauro Maccarinelli, IntesaBci is leading the pack.
CreditTrade strikes deal with Digital Island
CreditTrade, a credit derivatives dealing platform, plans to offer Web services that it says should cut implementation and facilities costs by 30%, while accommodating up to 5,000 transactions per day.
Icor sees a trade a day in first week
Icor Brokerage, an over-the-counter electronic forex options trading platform, has seen a trade a day since it was finally launched in Asia on January 16 – more than a year after its initial schedule.
Omgeo expands straight-through processing service
Omgeo, the global trade management services provider, said 17 firms had signed up to its global straight-through processing platform, Omgeo Central Trade Manager (CTM), a central matching product for domestic and cross-border trades.
SunGard offers risk analysis for STN users
SunGard Trading and Risk Systems, a unit of US financial services supplier SunGard, will offer users of SunGard Transaction Network (STN) Treasury - an online trading platform for forex and money markets - on-demand risk analysis and reporting through…
Patsystems to renegotiate connectivity contracts
Patsystems, the London-based independent software vendor (ISV), will renegotiate a 'substantial' number of unprofitable contracts with clients in its latest strategic review.
Icor launches electronic options broking
Icor Brokerage has launched its online brokerage service for forex options in the Asia-Pacific region, where 14 banks are already hooked up to trade over the system. Six additional Asian banks are set to go live next month.
Forex spot and futures platform EBS Trader goes live
The EBS Partnership today goes live with EBS Trader, its internet-delivered conversational direct-dealing system for spot and forwards foreign exchange, company officials told RiskNews ' sister publication FX Week . The service will compete directly with…
Union Pacific to use Kiodex for fuel risk management
Union Pacific Railroad, a subsidiary of major American transportation company Union Pacific Corporation, has selected Kiodex Risk Workbench to manage its earnings exposure to energy price risk.
Reech joins the ASP rush to target hedge funds
UK-based Reech Capital has joined the growing number of firms targeting the hedge fund industry with application service provider (ASP) financial services instruments, by unveiling a new Web-delivered risk management product.
Cognotec in Digital Island deal to boost online performance
Foreign exchange and money-market trading software provider Cognotec has teamed with Digital Island, the San Francisco-based communication infrastructure specialist, to improve online performance. The agreement involves Dublin-based Cognotec…
Bundesbank goes live with new FX reserves system
The Bundesbank - Germany’s central bank - has gone live with a new electronic system for managing foreign currency reserves that should improve risk management.
KBC selects SunGard for securities processing
KBC has selected intelliMATCH from SunGard eProcess Intelligence, an operating unit of US financial services IT provider SunGard, for matching and reconciliating trades.
SFE pays US$28 million for OM technology
The Sydney Futures Exchange (SFE) entered a US$28 million, eight-year agreement on Friday to outsource its core clearing technology and operational support functions to Swedish technology vendor OM. The agreement includes US$5 million in capital costs…
2002: the catch-up year for smaller players
Prime brokerage is famously dominated by a few leading participants who control the market. Sophie Radnor talks to the prime brokers who are hoping to win some market share in 2002.