Risk Management Technology Newsflashes
Nomura will install Reuters' Kondor+ front-office system and Kondor Global Limits, its credit-risk-management-system. Both products will be installed into Nomura's foreign-exchange(FX) trading-desk in London to facilitate the growth of Nomura's global FX network. Reuters is replacing an incumbent system, whose name was not disclosed. Nomura plans to integrate the two systems with its existing Reuters foreign-exchange order-management system and foreign-exchange dealing products. AWB, the former Australian Wheat Board, will deploy Financial Engineering Associates' (FEA) derivative pricing components with Reval's Web-based HedgeRx solution to manage market-price risk. With the combination of the two systems, AWB will gain a Web-based wheat and wheat-futures trading and risk-management system. "As a long-time user of FEA analytics, AWB wanted to leverage the FEA technology used extensively in our trading organization," states Joshua Roberts, president of AWB (U.S.A.) Limited. AWB chose Reval's HedgeRx solution ,which includes FEA's derivative pricing components, to provide worldwide access via the Internet and capitalize on Reval's demonstrated risk management expertise, he adds.
SG Corporate & Investment Banking (SG CIB), which is part of the Societe General Group, has selected JRisk for its foreign-exchange options business. The system, developed by Application Networks, based in Palo Alto, Calif., provides pricing, trading and risk management. Implemented in Paris, the system, will support the SG CIB's operations globally, and will go live in early 2004. "Time to profitability is critical for us," states Richard Giltner, global head of FX Options at SG CIB. "With Application Networks, we can go live more quickly with an integrated business solution for our sales, trading and risk management activities," he adds.
SuperDerivatives will make its foreign exchange (FX) option pricing-system and analytics available to users of Reuters 3000 Xtra thanks to an agreement between both companies. SuperDerivatives provides real-time market price (bid and offer prices) for all classes of options in over 50 currency pairs. Reuters 3000 Xtra subscribers can request a free trial of the service.