Real time Risk Management using Razor at the International Derivatives Clearing Group
11 May 2009
Razor Risk Technologies Limited (ASX code: “RZR”), a leading global provider of software solutions created in response to the complex issues surrounding risk measurement, management and control, is pleased to announce the production implementation of the market leading RAZOR risk management solution for the International Derivatives Clearing Group (IDCG).
Malcolm Warne, President of Razor Americas, stated “Razor Risk Technologies (RRT) has been working closely with IDCG since July 2008 to meet IDCG’s stringent risk management technology requirements through a combination of RRT’s Razor software and experienced risk management consultants. The Razor technology was approved for use by IDCG following a rigorous approval process by the Commodities Futures Trading Commission (CFTC).”
Chris Edmonds, IDCG’s CEO, added “The combination of Razor’s real-time interest rate derivative risk management functionality and proven implementation track record for clearing houses made Razor the stand-out provider for our risk management and time to market needs.”
Andrew Wood, Chief Executive at RRT added that “our clients expect to take early advantage of business opportunities and it was of particular importance that the speed of implementation of Razor, together with approval from the CFTC, gave IDCG a live environment for their target market. This rapid and successful implementation adds to RRT’s growing global list of live Razor clients and in particular we have Razor in production in clearing houses across the key markets of Asia Pacific, Europe and North America.”