TORONTO, Oct. 4 /CNW/ - Algorithmics Incorporated, an international leader in enterprise risk management solutions, has announced that Algo Suite 4.2 is now available. This latest version of Algorithmics' flagship suite of solutions, based on the proven Algo Suite 4 server architecture, delivers key business benefits to financial institutions. These benefits include enhanced profitability, cost and management efficiencies, and greater transparency for regulators and investors. Algo Suite's enhanced system performance and scalability provides state-of-the-art, real-time analytics, limits monitoring as well as true enterprise risk functionality.
Through a single data architecture and risk engine, Algo Suite provides an enterprise-wide view of all types of risk including market, credit, asset and liability management (ALM) and operational. "Algo Suite is the most comprehensive enterprise risk management solution available," said Michael Zerbs, Chief Operating Officer at Algorithmics. "Our solutions offer a truly integrated enterprise-wide approach to risk management. For example, Algo Credit provides an integrated solution to measure and manage credit risk across both the trading and banking books, delivering consistent multi-level decision support for executive, front and middle office users. Algo Credit enables financial institutions to actively manage their global credit limits, and offers a proven enterprise platform for managing economic and regulatory capital."
Through its flexible, scalable architecture and Algorithmics' award winning Mark-to-Future technology, Algo Suite provides proven, high-performance risk services and analytics via user-friendly, web-enabled interfaces to risk managers and front office users alike. Designed as a mission critical system, Algo Credit can provide thousands of users with real-time access to global limits and exposures. In addition to front office performance, a proven business benefit of Algo Suite is its ability to work with very large datasets across the enterprise to generate an accurate picture of risk. For example, Algo Suite 4.2 clients are scheduled to run simulations with hundreds of thousands of positions over thousands of scenarios and hundreds of time steps in daily production.
Algo Suite 4.2 also features enhancements in the area of scalability. Algo Suite provides a fully distributed solution, which may be easily scaled to incorporate new risk management tools, business divisions, geographical areas, instruments and methods, and lines of business as they evolve. "In an environment characterized by dynamic emarkets and frequent mergers and acquisitions, Algo Suite 4.2 gives financial institutions the critical ability to construct enterprise risk management functions that embrace changing business and regulatory requirements without the need to reinvest in costly new systems" said Zerbs.
Algorithmics sets industry standards for its leading edge, advanced analytics. Algorithmics' award winning, scenario-based analytic framework, Mark-to-Future, enables risk managers to capture accurate, fully integrated measures of risk at every level of the enterprise, using a single, consistent methodology. This approach ensures a coherent and scalable approach to tactical and strategic decision-making. It also results in the simplification and integration of the institution's technology infrastructure with fewer systems and dramatically reduced IT costs.
Algo Suite's components, whether for data management, scenario generation, market, credit and operational risk analytics, limits management, collateral management or reporting, share a common data model that maintains consistency among applications and streamlines the way data is passed between them. This approach not only allows institutions to select those components that cover their specific areas of business, but also enables institutions to scale up their systems to meet the growing demands of enterprise risk management. The Algo Data Layer enables daily batch and intra-day risk management calculations, while storing and maintaining a consistent source of validated data used by Algo Suite's risk analytic tools. Enhanced system maintenance within Algo Suite 4.2 provides a robust tool kit for Algo Suite system operators including additional data and system maintenance options. Furthermore, Algo Suite's new open framework for security provides authentication and authorization services, and allows for the integration of other security service components. Finally, its risk reporting capabilities have also been enhanced to allow for the reuse of risk expressions across report definitions, along with advanced features to enable building reports easier.