Reuters, the global information company, and CicadaRisk, provider of risk management solutions for the buy-side, have announced a distribution agreement where Reuters DataScope securities data is to drive the analytics and scenario functionality in CicadaRisk's new risk solution, RiskGrid.
This alliance gives Reuters DataScope, Reuters complete back office historical and reference data solution, further penetration into the asset management community. Reuters DataScope is integrated within CicadaRisk's RiskGrid, which was developed in response to the specific needs of the buy-side community.
Caroline O'Shaughnessy, Head of Third Party Alliances for Reuters DataScope, said: "This is an excellent example of the power of combining reliable reference data with a sophisticated and highly bespoke software solution. By embedding Reuters DataScope's global breadth and depth of information in CicadaRisk's sophisticated RiskGrid solution, we are helping to provide truly valuable workflow solutions for asset management firms globally."
Richard Bennett, CicadaRisk Chief Operating Officer, said: "We have created RiskGrid to help investment managers meet the challenges brought on by increasing competition and regulation in this market. Now, asset managers and owners must employ rigorous standards and tools for controlling risk across a wider range of asset classes. RiskGrid's analytics and scenario-modelling, driven by the proven high-quality data supplied by Reuters DataScope, will help our clients achieve a consistent enterprise risk view."
The combined solutions offer clients the ability to use Reuters DataScope's high quality reference and pricing data using CicadaRisk's RiskGrid with sophisticated risk management functionality that supports both simple and complex instruments and monitors as many portfolios as required.
RiskGrid provides full support for end-of-day and real-time risk decision-making and can be deployed via ASP, hosted, and remotely-managed on-site implementations.