Algorithmics wins Innovation and Market Risk categories and rises to 2nd overall
Toronto, London – December 3rd, 2009 –
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.”
The RiskTech100TM report can be obtained at www.chartis-research.com
ENDS
For further information please contact:
Heather Smith, Senior Communications Manager, Algorithmics (UK) Ltd
Direct line +44 (0) 20 7392 5820 Mobile +44 (0) 7515 974223
E-mail Heather.smith@algorithmics.com
Notes to Editors:
Chartis Research is the leading provider of research and analysis on the global market for risk technology. Its goal is to support enterprises as they drive business performance through better risk management, corporate governance and compliance. It helps clients make informed technology and business decisions by providing in-depth analysis and actionable advice on virtually all aspects of risk technology. For details on obtaining the complete report please see www.chartis-research.com. RiskTech100TM is a Registered Trade Mark of Chartis Research Limited (US Trade Mark Registration No. 3454398).
RiskTech100TM ranking methodology
Geographically, the RiskTech100TM is made up of firms from 17 different countries. The list is dominated by the US, with 47 firms, followed by the UK with 21. France (5) and Canada (5) are also well represented.
Algorithmics is the world's leading provider of risk solutions. Financial organizations from around the world use Algorithmics' software, analytics and advisory services to help them make risk-aware business decisions, maximize shareholder value, and meet regulatory requirements. Supported by a global team of risk experts based in all major financial centers, Algorithmics offers proven, award-winning solutions for market, credit and operational risk, as well as collateral and capital management. Algorithmics is a member of the Fitch Group. www.algorithmics.com
Fitch Group is the parent company of Fitch Ratings, a global ratings agency committed to providing the world's markets with independent, timely and prospective credit opinions. With 49 offices worldwide, Fitch Ratings’ global expertise spans across capital markets in over 150 countries. Fitch Ratings is headquartered in New York and London.
The Fitch Group also includes Fitch Solutions, a distribution channel for Fitch Ratings products and a provider of data, analytics and related services; and Algorithmics, the world's leading provider of enterprise risk solutions.
The Fitch Group is a majority-owned subsidiary of Fimalac, S.A., headquartered in Paris, France.
For additional information, please visit www.fitchratings.com www.algorithmics.com and www.fimalac.com
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