Toronto-based Algorithmics says 30 clients have signed up for the latest version of its risk management platform Algo Suite - which includes support for Linux and distributed computing systems as well as extended Basel II functionality - in the first two months following its general release.
Algroithmics says 16 clients are currently migrating to Algo Suite 4.4, with a further 14 scheduled over the next few months.
Michael Zerbs, chief executive officer of Algorithmics, says the client response is the strongest he has seen to a release of the 4.0 architecture: "The list continues to grow as clients opt for a best practices approach to regulatory capital management for Basel II, the significant performance and cost benefits of Linux and distributed computing, and the sheer analytic power and scalability of our Mark-to-Future enterprise risk architecture."
The vendor announced last October that it was releasing a distributed computing version of its flagship Algo Suite product. The product was unveiled at the LinuxWorld Conference and Expo in New York in January.