Algorithmics rises higher in the Chartis RiskTech100TM ranking of risk technology vendors
Toronto, London - 3 December 2009
Algorithmics wins Innovation and Market Risk categories and rises to 2nd overall
Algorithmics, the leading provider of risk solutions, today announced that it has risen to its highest placing to date in Chartis Research’s RiskTech100TM ranking of the top 100 risk technology vendors worldwide. Algorithmics was recognized as the winner in the categories of Innovation and Market Risk and ranked 2nd overall.
Commenting on the results, John Macdonald, Executive Vice President, Algorithmics, said: “The last year has seen a fundamental re-assessment of risk and supervisory practices. Our clients have changed their approach to risk management and in particular, the way they use risk information in their decision making across the organization, from the trading desk through to the board room. Algorithmics’ response to this demand is to bring the depth of capability our solutions offer straight to the decision makers and in doing so, provide them with data, risk-aware tools and business applications at the right time – whether that’s in real-time, on demand during the day or first thing in their mornings from overnight processing. In doing this, we help them manage risk pro-actively and use their knowledge of the risks to make the best possible business decisions.”
Chartis Research selects and ranks the top risk technology firms on the basis of a comprehensive sweep of the marketplace and a detailed assessment methodology. In addition to the rankings, Chartis has applied its detailed evaluation metrics to identify and announce winners in a number of key categories.
Algorithmics has been selected as the winner in two different categories: Innovation and Market Risk. “Algorithmics placed second, with the highest score for innovation and substantial improvements on its customer satisfaction score from previous years”, comments Peyman Mestchian, Managing Partner at Chartis Research, “we continue to be impressed by Algorithmics’ long term strategy and vision for providing enterprise-wide technology solutions for managing risk. Chartis views this as a significant competitive advantage over those vendors that are fixated on short-term tactical reactions to individual regulatory requirements.”
Michael Zerbs, President and COO of Algorithmics, added: “We are proud that Algorithmics continues to be recognized by Chartis. Winning the Innovation award is deserved praise for our R&D teams who are developing new products and functionality, including collateral messaging, liquidity risk and credit valuation adjustment, among other things. These products go beyond regulatory requirements to provide real enterprise-wide and integrated risk management for our clients.”