Marex Financial and Algorithmics today announced that Marex has gone live with a managed services deployment of Algorithmics' market-leading risk management platform Algo Risk.
Hosted by Algorithmics, this offering provides financial institutions with advanced portfolio analytics, risk management and decision support capabilities spanning all asset classes and investment strategies.
"When choosing Algorithmics, Marex sought a risk calculation engine that could cover the full spectrum of its business and provide full hosting capabilities. Essential criteria that Algorithmics had to meet included a demanding implementation schedule, flexible reporting capabilities, reliable system support, and ease of use," says Duncan Stewart, Risk Manager at Marex Financial. "In comparison to the competitive systems that Marex considered, the Algorithmics solution proved to fit all requirements. The system was implemented in line with the timetable, and since implementation has proven to be a highly capable and reliable tool that is essential to Marex's risk management function."
"Marex is now able to stress test their proprietary and client books, including yield curve, volatility surface and commodity curve shocks, and generate VaR and other risk analyses across a wide range of FX, interest rate, and commodity products," says Dr. Andrew Aziz, Managing Director of Risk Solutions for Algorithmics. "This managed services deployment gives Marex access to leading edge risk management tools without the need to support a complex infrastructure onsite."