Man Group live with IT&e risk technology

Source: IT&e

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 that Man Group (London Stock Exchange (EMG) and a constituent of the FTSE 100 Index), a leading global provider of alternative investment products and solutions, has gone live on IT&e's Razor system for measuring and monitoring the credit risk component of its Economic Capital.

Man Group takes a rigorous approach to Economic Capital which is an essential component of its overall risk management framework. For credit risk this involves the regular monitoring of the Economic Capital that Man holds to cover its exposures to a wide range of counterparties. This approach provides security in all types of market conditions, including the recent volatility.

Antony Elliott, Group Head of Financial Risk at Man Group commented, "IT&e delivered a leading edge combination of thought leadership in managing Economic Capital and state-of-the-art technology. Our business is constantly evolving, and the increasing complexity of the firm's trading and hedging activity required us to identify a solution that is inherently adaptable and extendible."

The Razor solution configured for the Group Risk Department models the credit component of Economic Capital and provides results in less than two hours for a process that had previously required over 24 hours. The solution utilises the distributed processing capabilities of Razor.

Richard Bennett, IT&e's Head of EMEA noted, ""The ability of Razor to include both an internally developed, proprietary correlation model and a full simulation of trading book exposures was key for Man Group in deriving risk-based measures of Economic Capital."

James Maranis, CEO of IT&e said, "We are pleased to have delivered Razor into a prestigious organisation such as Man Group. The entire implementation was completed on time and on budget. Performance improvements are as promised, if not faster."

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