IT&e Limited (ASX code: "ITE" AIM: "ITEL"), a leading provider of financial software and consulting services to the global financial markets, is pleased to announce the Treasury Corporation of Victoria (TCV), an Australian State Government Authority, has selected IT&e’s Razor product for the measurement of the Corporation's Market Risk.
IT&e and TCV have today signed a license agreement for Razor to address the State Government's fully integrated, advanced Market Risk management requirements. Razor was identified as the best fit for TCV's requirements after a thorough search of international risk solutions.
Steven Dive, Head of IT&e's APAC Product Sales noted, "We are very pleased to partner with TCV, and provide Razor as the solution for TCV's Advanced Risk Project. Razor provides integrated Market and Credit Risk management and will be initially implemented to fulfil TCV's market risk requirements including comprehensive stress testing, back testing and scenario analysis. Razor offers TCV a strategic platform for the future with the opportunity to expand functionality to include Credit Risk modelling, CVaR , Earnings at Risk (EAR), Risk Adjusted Performance Measures (RAPM) and Economic Capital, all within the single Razor solution."
James Maranis, CEO of IT&e said, "We are delighted that Treasury Corporation of Victoria, has chosen to measure their risk with Razor. This strongly endorses Razor's adaptability and flexibility to meet the Risk requirements for a broad range of financial organisations' including Banking, Funds Management, Exchanges and Government Authorities.
"This represents another significant step for IT&e in our quest to become a leading vendor in the Risk space."