15 November 2010
Reporter: Steven Lafferty
Algorithmics enhances Algo Risk Service
Algorithmics, has announced that it has enhanced the customization capability of its award winning Algo Risk Service, a hosted risk management, portfolio analytics and decision support tool, by adding eight new service extensions.
Unlike standard ASP services, Algo Risk Service is a managed service that has a dedicated client environment which offers the configuration flexibility normally associated with an in-house deployment. Algo Risk Service extensions are optional service extensions that complement and augment the award-winning Algo Risk Service, enhancing its already powerful functionality and offering clients the flexibility to customize the service even further. Algo Risk Service extensions give clients of Algo Risk Service access to a range of advanced data management, optimization, analysis and reporting tools, managed and supported by Algorithmics’ industry leading financial engineers and risk practitioners, in an environment uniquely customized to each client’s specific business requirements.
Roger Orde, Senior Director, Algo Risk Service, said: “Since its launch, Algo Risk Service has been recognised as an award winning risk technology solution for buy-side firms. The addition of these new service extensions, available on request, provides even greater flexibility for clients to tailor the service to their unique needs. A good example of this is the introduction of sophisticated, customized scenarios which represent enhancements of the standard scenarios available within the Algo Risk Service. No two portfolios are the same, so the question is why should any two scenarios be the same? The ability to select and apply custom scenarios that better reflect their risk profile makes a lot of a sense for most clients.”
The new service extensions for Algo Risk Service have been driven by evolving market requirements and changing client needs. For instance, counterparty credit exposure enables the monitoring, measuring and management of counterparty credit risk, with clients being able to see the impact of changes in portfolio composition on both market and credit exposure.
Dr Andrew Aziz, Executive Vice President of Buy-Side Solutions, Algorithmics, added: “The Algo Risk Service extensions have been developed based on demand from clients to be able to customize an already flexible product offering to meet very specific and bespoke business requirements and to address differing consumers of risk analytics. For example, a key trend arising out of the recent financial crisis has been the desire to distribute risk reporting more broadly and to make it more relevant to more areas within the business. The new advanced reporting service extension will do just that.”