Buy and sell-side users of the Bloomberg Professional service are to be offered an integrated risk management application developed by the market data vendor in partnership with Toronto-based Algorithmics.
The Algo Risk system is the first key product of a strategic development partnership between Algorithmics and Bloomberg established to deliver risk management capabilities to investment professionals.
The launch of the service follows an extensive period of testing and consultation with a number of development customers.
Algo Risk integrates Algorithmic's Mark-to-Future framework with Bloomberg's market and securities data. The thin client application is intended to provide users of Bloomberg's trade and portfolio management order systems with direct access to a full risk profile and scenario generation across all asset classes.
Michael Zerbs, COO, Algorithmics, says volatile markets and new banking regulations are driving a need for accurate, real-time trading and risk solutions that are scalable to the desk and enterprise level.
"Algo Risk is the first market ready risk management system for the buy and sell-side developed to directly meet that need," adds Zerbs.
In November, the two firms released data loaders for populating Algorithmics applications with market and securities feeds from Bloomberg's Data License product.