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Kamakura upgrades credit default prediction software
Hawaii-based risk technology vendor Kamakura has upgraded its default probability calculation software. The company said version 3.0 of its Jarrow-Chava default probability KDP-jc is an improvement on previous models that tended to overestimate the…
Abbey National selects Algo Collateral
Abbey National has licensed Algo Collateral from Canadian risk technology provider Algorithmic. The UK bank will start implementing the technology in London immediately.
Caterpillar chooses SuperDerivatives for forex hedging
Caterpillar, the US-based manufacturer of construction machinery, has bought the SuperDerivatives system for pricing foreign exchange options.
Wells Fargo signs up to Calypso
Wells Fargo will use Calypso Technology transaction and processing software to support its interest rate derivatives trading desk in San Francisco, said Calypso and bank officials.
DTCC and Swapswire launch CDS services
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Reuters adds SuperDerivatives to 3000 Xtra
Reuters has added SuperDerivatives’ currency options pricing system to its 3000 Xtra platform, as part of its efforts to boost its position in the treasury markets.
CME sees record electronic forex trades
Electronic foreign exchange trading on the Chicago Mercantile Exchange's (CME) Globex platform has exceeded 100,000 contracts a day for the first time.
HVB extends relationship with Front
Germany's HypoVereinsbank (HVB) has formed a new partnership with Front Capital Systems, the Swedish trading systems operating unit of SunGard. It will result in close collaboration between the two companies in IT development.
SwapsWire launches automated credit derivatives confirmation service
SwapsWire, the UK-based electronic trading platform backed by 23 leading international banks, has developed an automated confirmation-delivery system for credit default swaps (CDS). It believes the service should ultimately reduce processing time from…
CDC Ixis AM selects Riskdata for hedge fund risk management
CDC Ixis Asset Management, the asset management arm of French investment bank CDC Ixis, has bought Riskdata's HEDGiX service to help manage its alternative investment portfolio.
Bear Stearns joins rush to sign with Mark-it
US investment bank Bear Stearns has signed an agreement to use data supplied by UK credit data provider Mark-It Partners. It is the latest in a stream of major financial institutions to sign up for the service.
Patsystems moves into forex trading
UK-based trading technology vendor Patsystems will expand into foreign exchange trading through a deal reached with IFX Markets. The British companies will develop an interface that will allow traders on Patsystems’ trading platform to connect directly…
Mark-it snares first French contributor
Mark-it Partners, a UK company providing daily pricing information on credit derivatives and cash credit instruments, has signed up French bank Credit Agricole Indosuez (CAI), its first French client.
Singapore’s OCBC signs technology deal with FSS
Oversea-Chinese Banking Corporation (OCBC), the Singapore-based financial services group, has entered an agreement with Financial Software Systems (FSS) for its foreign exchange margin trading business.
KWI unveils new energy risk system
KWI, the London-based energy risk technology company, today unveiled a newly developed suite of applications for multi-commodity trading and risk management. The system, known as K2, will replace KWI’s previous flagship product kW3000.
Rabobank to implement SunGard credit risk software
Rabobank will implement Credient MC2, a credit risk measurement package owned by SunGard Trading and Risk Systems, as a cheaper alternative than investing in a new credit system infrastructure.
iBoxx, RiskMetrics launch $ indices
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JP Morgan Chase to spend over $100 million on new credit risk system
The executive committee of JP Morgan Chase has “essentially approved” a budget in excess of $100 million to be spent on creating a new integrated credit risk management system, according to Dennis Oakley, a managing director in the firm’s credit…
Sumitomo Corporation installs FNX’s Sierra
Japan’s Sumitomo Corporation has installed FNX’s Sierra System to support its strategy of complete straight-through processing (STP) for its commodities, exchange-traded products and swap-trading operations.
Refco signs up as non-bank member to JP Morgan Chase’s CLS service
Refco Capital Markets has selected JP Morgan Chase as its provider of continuous-linked settlement (CLS) services.
SunGard to offer integrated energy risk system
SunGard Energy Systems, an operating group of Pennsylvania-based SunGard, plans to offer a single integrated suite of energy risk and trading systems called Entegrate.
Deutsche adds e-options
Deutsche Bank will go live with foreign exchange options on its autobahnFX trading platform in January, in response to client demand, a bank official told RiskNews ' sister publication FX Week .