Tullett and Quaternion partner CU FinTech Lab on open source risk project
08 December 2016 | 6730 views | 0
Tullett Prebon Information and Irish risk analytics firm Quaternion have partnered to launch an open source risk project in collaboration with Columbia University’s FinTech Lab in New York.
The collaborative effort will support opensourcerisk.org and is aimed at delivering a method to standardise risk modelling across the industry.
Frank Desmond, CEO at TPI, says: “Quaternion’s open source risk framework is of huge value to the academic community, facilitating research into the fundamental drivers of financial markets. Our data, Quaternion’s innovative approach and Columbia University’s research will provide the financial markets with more clarity on risk."
The three partners are inviting finance professionals and the academic community to test, improve and develop the open source code contributed by Quaternion and contribute to the progress of standardised models.
From a commercial perspective, TPI and Quaternion says they intend to partner on the development of data products and services to help banks to manage their capital more efficiently.