Algorithmics releases Algo Risk Application version 1.6; launches reference deployment package for A

Source: Algorithmics

Algorithmics Incorporated, an international leader in enterprise risk management solutions, and Bloomberg LP, a leading global news and information organization, today announced the release of version 1.6 at the Algo Credit Conference in Vienna.

"This latest version of Algo Risk has powerful features that enable individual users to customize user interfaces to their unique requirements," says Andy Aziz, Vice-President of Buy-Side Solutions at Algorithmics. "Traders, portfolio managers and risk managers within organizations have differing business needs and preferences, and we developed version 1.6 in response to user feedback for more individual choice and control over the way information is interactively displayed, processed and analyzed."

Algo Risk version 1.6 includes the following features:
  • Custom Interface - As part of continued efforts to deliver an intuitive and functional interface that can be customized, users can now remove and re-order sections and tabs to create a front end that caters to their specific needs. New reporting components have also been added to enhance the information display. Users can visually assess the riskiness of their portfolio through Heat Map and Output Meter displays.
  • Advanced risk analytics - As part of continued efforts to strengthen analytics, risk analytics are now more transparent and enable users to see underlying computations. Users can decompose tracking error into asset allocation, security selection and interaction impacts. Similarly, VaR analysis is split into interest rate, equity and foreign exchange components to provide users with more comprehensive and insightful analytical tools. Hedge fund users can also benefit with analytics such as NAV, Beta adjusted NAV, Net Market Exposure, etc. when assessing their portfolio risk.
  • User-defined scenarios - Users have greater control over scenarios and can now make specific changes to the shape of an interest rate curve. This feature allows users to interactively create additional curve shift scenarios and dynamically assess the impact these changes have on their portfolios.
  • Historical Reporting through Time - Historical reporting enables users to recall stored historical risk and P&L data to conduct backtesting and performance analysis that allows them to compare the actual performance over time of a portfolio or instrument to expected results.
  • Advanced hard-copy reports - Users can print and export report views in PDF formats that enable them to customize font type and size as well as paper size and layout. This provides users with greater flexibility when generating hard-copy reports.
  • Product coverage - Product coverage continues to be expanded and version 1.6 now includes more derivative products such as options, swaption, etc. and more comprehensive coverage of mortgage and asset-backed securities.

    Separately, Algorithmics Incorporated, a world leader in enterprise risk management solutions, today announced the availability of a reference deployment package for Algo Suite Version 4.4 within Algorithmics' in-house solution center, Algo Lab. The reference deployment package is essentially a starter-kit that contains a pre-configured but fully functional version of Algo Suite 4.4 and sample data representative of a typical portfolio. It provides a turnkey starting point during demonstrations and discovery for clients who wish to evaluate the system prior to purchase. It also provides a baseline reference point during development for clients who wish to customize the system with data representative of their own portfolios, pricing models and risk scenarios.

    The reference deployment package helps accelerate implementation of Algo Suite 4.4 dramatically. Clients wishing to purchase or upgrade to this latest version can test their own data sets in a controlled environment before going live. The reference deployment package substantially reduces the time and effort required to get from project start to the first meaningful outputs. This approach addresses a key project issue: clients want and need an integrated, comprehensive risk management system -- but most client data resides in silo and legacy systems. In the past, verifying that the new, integrated system was generating meaningful results and reports required linking and integrating all the modules within the Algo Suite. With the reference deployment package, these serial dependencies are reduced.

    "The reference deployment package helps clients who aren't familiar with an integrated system to visualize and define their comprehensive risk management system requirements. It helps our teams identify issues and demonstrate progress very early in the project," says Mina Wallace, VP Operations at Algorithmics. "Our clients also benefit by having the option of implementing upgrades in a controlled testing environment that systematically steps them through the process and provides their people with training and support prior to deployment in-house."

    The reference deployment package is a key component of Algorithmics' ongoing Appliance Initiative, a long-term strategy to ensure its enterprise risk management software solutions are delivered and supported in the most efficient manner and focused on reducing total cost of ownership.

    The reference deployment package integrates all core Algo Suite components. It processes front and back-office data and runs both Mark-to-Market (MtM) and Mark-to-Future (MtF) simulations for both market and credit risk. The package includes market risk, credit limits and portfolio credit risk streams, and demonstrates the functional and technical setup required.

    Additionally, Algorithmics Incorporated, a world leader in enterprise risk management solutions, and FRS, a leading global provider of regulatory and financial reporting solutions and a business unit of S1 Corporation (Nasdaq: SONE - News), today announced they have entered into an agreement to deliver regulatory reporting within the Algo Capital solution. Based on Algorithmics' leading risk management infrastructure, Algo Capital is a risk management solution that enables banks to effectively measure and manage economic and regulatory capital and meet Basel II requirements. The integration of FRS Basel II reports within Algo Capital meets client requirements for the effective management and reporting of economic and regulatory capital.

    "Comprehensive and flexible regulatory reporting is an important function within an effective capital management solution," remarked Michael Zerbs, Chief Executive Officer at Algorithmics. "FRS has solid international experience and best-of-breed regulatory reporting that is an excellent fit within Algorithmics' comprehensive Basel II solution."

    "Institutions are being compelled through regulation to establish solid regulatory capital management and economic reporting capital measurement and management systems," said Debbie Williams, Group Vice President, Capital Markets and Risk Management practices at Financial Insights, an IDC company. "Effective reporting ensures the benefits of the reporting engine are realized and regulators are provided accurate, timely information."

    "The combination of Algorithmics leading risk management solutions with FRS regulatory and Basel II reporting products delivers an end-to-end solution that leading global FIs have been seeking." stated Alain Tayenne, FRS general manager. "FRS is pleased to be working with Algorithmics to offer these banks a solution that provides consistent regulatory reporting functionality across their global operations."
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