Source: Algorithmics
Algorithmics, a world leader in enterprise risk management solutions, today announced that Germany's largest public sector bank, Landesbank Baden-Württemberg (LBBW), will be expanding the coverage of its Algo Collateral solution to respond to the increased volume and business potential that has been created through their strategic management of their collateral portfolio.
The LBBW Algo Collateral implementation has been enhanced to enable the management of over 300 collateral agreements and provide a sustained competitive advantage in an increasingly consolidated German marketplace.
LBBW, rated in 2005 as the best among the country's Landesbank, adopted Algo Collateral in response to changes to regulatory requirements for credit lending and credit worthiness in 2005.
"We have been able to scale operations to respond to increased business potential through Algo Collateral," says Andreas Beck, Head of Back Office OTC Derivatives. "Through Algo Collateral we are very effectively meeting current business requirements and have a clear path set for long-term growth."
"Best-practice collateral management enables business growth," says Evelyn Dewaele, Vice President of Collateral Management at Algorithmics. "LBBW has expanded both trading volume and counterparties and meets foreseeable requirements for Basel II while achieving capital relief through netting collateral."