DataMetrics is a data service focusing on trading rooms risk managers data requirements. DataMetrics provides error-free daily data on the widest possible range of riskfactors. The data consists of a series of variance / covariance calculations which are necessary to calculate parametric value at risk as well as historical data to calculate historical value at risk. Until now, RiskMetrics have been offering the variance / covariance data service for free and have recently decided to commercialise it.
Ubitrade Capital markets, a desk level risk management and trading solution, has in the past used DataMetrics data to calculate value at risk. In order to ensure that users continue to have access to this data, Ubitrade have signed an agreement with RiskMetrics to offer this data to their users at a discount as part of its global trading and risk management package.
Stephen Harvey, Director of Sales at RiskMetrics, commented: "We have been working with Ubitrade for some time, supplying them with variance / covariance input data enabling their Ubitrade Capital Markets system to issue Value at Risk calculations. Partnering with a global player such as Ubitrade will enable us to benefit from the business stream they generate."
Jacques SauliÃ¨re, Head of Marketing, Ubitrade, commented: "This partnership with leading data provider RiskMetrics allows us to offer a fully integrated risk management solution to our customers: Ubitrade Capital Markets calculates the Value at Risk on the basis of the data supplied in real time by RiskMetrics. Our customers will also benefit from discounted prices we have negotiated with RiskMetrics."