Denmark's Danske Bank has implemented Algo Collateral from Toronto-based Algorithmics to support the expansion of its margining activities and collateralised counterparties.
Algorithmics says it has also worked with the bank to develop a new function in Algo Collateral that allows the solution to recognise already authenticated database users to its operating system.
Søren Bolvig, project manager, Danske Bank, says: "Algo Collateral allows us to open up new lines of business with minimal outlay of additional technical or financial resources."
Danske is the first Scandinavian bank to run Algo Collateral in production and is currently investigating the software's ability to host straight-through processing.