SKFH is a financial holding company with five subsidiaries spanning insurance and banking: Shin Kong Life Insurance Co., Ltd. (SKL), Taiwan Shin Kong Commercial Bank Co., Ltd. (SKB), Shin Kong Securities Co., Ltd. (SKSC), Shin Kong Investment Trust Co., Ltd. (SKIT), and Taiwan Shin Kong Insurance Brokers Co., Ltd. (SKIB).

Algorithmics' market risk solution, Algo Market Analytics, covers more than 20 global markets and over 400 financial products, spanning fixed income, foreign exchange, equity, credit, energy, commodity, and derivatives instruments.

SKFH's CRO, Dr. Grace Chu, said: "We chose Algorithmics because we wanted a best-of-breed market risk engine to support our strategic enterprise-wide risk management initiative. Our goal is to have a consistent and comparable risk measure across all our different businesses.

"Algo Market Analytics provides us with a market risk solution that can run best-practice, technologically advanced, intra-day market risk analytics quickly and efficiently and in a manner that is consistent with Basel II requirements. The solution is flexible, scalable and will improve our current risk management decision support tools."

Dr Andrew Aziz, Algorithmics Executive Vice President of Risk Solutions, added: "I am pleased to welcome Shin Kong Financial Holding Co Ltd as a client. Algorithmics continues to build its presence and its reputation for best practice risk management in Asia. In particular, we have grown our Taiwanese team to address this project and better service our clients there.

"We will be implementing Algo Market Analytics across all the businesses in SKFH as part of its enterprise-wide risk management initiative. Having a consistent measure of risk across the enterprise will help SKFH better measure, control and manage its market risk to achieve its business and regulatory objectives."