MORS Software has been awarded winner of Cross-Asset Class Trading Innovation at The Banker Technology Awards 2007 for its solution MORS (Middle Office Reporting System). MORS is an automated intra-day quality check solution for independent risk control functions and is used by risk controllers and traders in cross-asset class trading to provide fast, extensive analysis of their risk positions.
MORS offers an innovative intra-day trading control solution for banks and corporate treasuries with P/L, market risks, liquidity risks and counter-party risks consistently calculated and presented in real-time for all levels of the portfolio structure down to a single deal and cash flow.
The Banker Technology awards recognise new concepts and ideas that allow financial institutions to break ahead of the competition and are now considered among the most prestigious in the industry. MORS was acknowledged as innovative in cross-asset class trading technology because of its efficient and easy to implement commercial solution for the daily quality control function, Stephen Timewell, Editor-in-Chief, The Banker, comments; “MORS demonstrated true multi-asset class trading capabilities in real-time. The judges were impressed by the fact that MORS’ Middle Office Reporting System could deal with real-time observations of trading profit and loss figures, market risks and counterparty risks in a true multi-delta solution.”
MORS began its life in 1996 and during the first five years, MORS was developed for the needs of Svenska Handelsbanken Markets. For the second five years, MORS was featured as a product group with the Swedish Algorithmica Research AB. MORS Software started as an independent company in 2006 and now has 10 installations and 100 users in cross-asset class trading rooms in financial institutions around the world in Helsinki, Hong Kong, New York, Oslo, Shanghai, Singapore, Stockholm and Warsaw. Reference customers include top Nordic players like Svenska Handelsbanken, Swedbank and Evli Bank.
Mika Mustakallio, CEO, MORS Software, comments, “It is a great accolade for MORS to be recognised in this way. MORS offers a whole new approach to improving quality in risk control: we bring to our customers the 'automated today’ approach instead of the still very common ’manually tomorrow’ approach. As a former risk controller I know how frustrating it is when, without automated tools, you do not have enough time to do your analytical control work properly or collate all reports in time. MORS gives you get extra time to perform the control work and puts risk controllers in a position where they can really contribute to the quality and understanding of the risks and P/L for the entire trading organisation in their banks.“