Algo Suite 4.4 to set new standards for enterprise risk management through Basel II compliance and distributed computing
TORONTO, Oct. 16, 2003 - Algorithmics Incorporated, an international leader in enterprise risk management solutions, today presented the latest version of its flagship suite of solutions at the company's Algo Credit Conference in Madrid, Spain. Developed in collaboration with a core group of early adopters representing some of the world's largest financial institutions, Algo Suite 4.4 sets new standards in enterprise risk management.
"Algo Suite 4.4 addresses the key regulatory and business challenges that face our clients. It includes extensive Basel II functionality as well as Linux and distributed computing support," said Michael Zerbs, Chief Operating Officer at Algorithmics. "Algo Suite 4.4 leverages Algorithmics' proven Mark-to-Future (MtF) technology to provide cost-effective, on-time enterprise risk management. It enhances our clients' return on investment and reduces their cost of ownership through increased performance and on-time decision support."
Algo Suite is the first and only scalable enterprise suite of risk management solutions to measure and manage market, credit, and operational risk, as well as asset liability and collateral management, consistently across the banking (wholesale and retail) and trading books.
Basel II - Algo Suite 4.4 goes beyond Basel II compliance to provide a solid framework for sustainable, extendable and cost-efficient risk management and profitability. Algo Suite provides comprehensive functionality to support the data consolidation, computation, and reporting requirements associated with Pillar I of the Basel II Accord. Leveraging its open architecture and enterprise-wide approach, Algo Suite also delivers the transparency necessary to support the supervisory review and market discipline requirements of Pillars II and III. Algo Suite provides a detailed breakdown of both risk and capital across the enterprise, thereby assisting firms to improve the management of their regulatory and economic capital. Finally, Algo Suite's single risk architecture streamlines the number of systems and processes required by a firm to obtain, analyze and audit its position, thus reducing redundant systems and costs.
Linux and Distributed Computing - Through its Linux and distributed computing support capabilities, Algo Suite 4.4 will significantly enhance speed, reliability and scalability. It will enable firms to manage enterprise risk at a lower cost using Intel-based Linux machines. The heterogeneous solution runs on both Solaris and Linux platforms, allowing firms to utilize existing resources and migrate to a Linux environment in stages. All key simulation and analytical components, including RiskMapper, RiskWatch, Algo Risk Engine, and the server portion of the Algo Scenario Engine, can run on Red Hat Linux 7.3. Algo Market and Algo Credit clients are able to deploy Algo Suite 4.4 across a Linux grid to realize lower hardware costs in a scalable, reliable and dynamic computing environment. Using the award-winning GridServer technology from DataSynapse, the generation of the MtF cube can be split across multiple machines with each machine simulating a small part of the cube.
On-time Mark-to-Future - Algorithmics advanced Mark-to-Future framework forms the basis for delivering accurate, simulation-based analytics on-time, allowing users to assess the impact a new deal on a portfolio risk profile, while considering the effects of natural market offsets and other credit mitigation techniques. As a result, more instruments can be simulated in less time, hence reducing the need for analytic approximations.
About Algo Suite
Algorithmics' suite of solutions meet the challenges of today's financial environment with an integrated series of advanced solutions that set a new standard in enterprise risk management. Algo Suite is the first software of its kind to provide a consistent, proven platform for the integration of market, credit, asset liability and operational risk functions. By calculating the optimal risk and reward trade-off across the enterprise, Algo Suite enables institutions to realize substantial business benefits, remain competitive, meet regulatory requirements and maximize shareholder value.
Algorithmics was founded in 1989 in response to the complex issues surrounding financial risk management for the enterprise. Today, as a leading developer with one of the largest and most experienced teams in the industry, Algorithmics continues to focus its efforts on creating and implementing enterprise risk management software that meets the evolving needs of its customers. Continuing its tradition of leading the way in risk measurement and management tools and processes, Algorithmics introduced Mark-To-Future (MtF), a risk-reward management framework, which won Risk magazine's Technology Development of the Year award for 2001. Headquartered in Toronto, with 15 offices around the world, Algorithmics serves more than 150 global clients in 26 countries.
(C) 2003 Algorithmics Incorporated. All rights reserved. ALGORITHMICS, ALGO SUITE, MARK-TO-FUTURE, MtF, RISK MAPPER, RISKWATCH, ALGO RISK ENGINE, ALGO SCENARIO ENGINE, ALGO MARKET, ALGO CREDIT, and the Ai logo are trademarks of Algorithmics Incorporated and/or its affiliates.
SOURCE Algorithmics Incorporated