UBS Warburg to develop currency risk software with Swissrisk

UBS Warburg to develop currency risk software with Swissrisk

UBS Warburg has contracted with Swissrisk for the development of a range of portfolio and risk management products.

UBS Warburg says it will collaborate with Swissrisk over the next few months to develop products which allow a more differentiated analysis of currency market risks.

Martin Wiedmann, managing director and head of foreign exchange distribution Europe at UBS Warburg, says: "UBS Warburg made a big effort last year to provide its clients with information and analysis tools that offer high added value. The Internet-based solutions we are now developing in conjunction with Swissrisk will put UBS clients in a position where they have a more solid basis for decision-making with regard to hedging unwanted currency risks."

Thomas Wolfensberger, Swissrisk's chief executive officer, says the company will be contributing "expert know-how and a high-quality development operation", to the venture.

Wolfenberger, a former corporate and technology consultant in the financial sector, established Swissrisk in partnership with Ernst Nusterer, a specialist in parallel computing and risk management. The company offers ASP-based portfolio management applications over the Internet to retail and institutional investors.

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