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Mizuho Securities Deploys Algo Collateral for OTC Derivatives; PRMIA Names Le Cann as Regional Co-Director of New York Chapter.

Tokyo-based Mizuho Securities (Mizuho) has installed Algo Collateral from Algorithmics for margining over-the-counter derivatives. Mizuho the first Japanese client for Algo Collateral, the company says.

"Algo Collateral is a key tool for us in attracting and creating new business opportunities," states Takeo Yazaki, manager at Mizuho Securities, in the release.

"The system was up and running on time and on budget and required minimal consulting," says Yazaki.

The implementation was completed in just over two months. During this period and prior to actual implementation, Mizuho Securities doubled the number of collateral agreements it held. ------

Noelle-Claire Le Cann was named the new regional co-director by The Professional Risk Manager's International Association (PRMIA) for New York, its largest chapter.

Le Cann is a vice president of Alternative Investments with Carlin Financial Group, where she evaluates hedge fund managers' performance and risk-management techniques for merger arbitrage, market neutral, convertible arbitrage, statistical arbitrage, Global CTA, distressed securities/fixed income and equity/long/short strategies.

Prior to joining Carlin, Le Cann was a sales trader with Instinet. From 1995 to 2002, she was with Schonfeld Securities, where her last position was the head of the equities desk.

Le Cann succeeds Philip Merrill, the first regional director in New York, who served along with regional co-director Richard Leite. Philip will remain a member of the New York Steering Committee and continue as a member of the PRMIA Board of Directors. PRMIA New York has over 4,000 members.

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