Algo Market Analytics will build onto Absa Capitalâs existing risk system and provide an end-to-end market risk solution that provides intuitive risk information to a broad user base. It will be fully integrated into Absa Capitalâs existing infrastructure and will align with Barclays Capital technology standards and the Group risk management requirements.
âWe are delighted that Absa has signed this important contract with Algorithmics. In todayâs complex and volatile markets, where pro-active enterprise risk management creates a decisive competitive advantage, access to the best market analytics is a pre-condition for effective innovation and risk aware, profitable growth,â commented Dr Michael Zerbs, President and COO at Algorithmics.
Dr Andrew Aziz, Algorithmics' Executive Vice President of Risk Solutions, said: âWe are working together closely on the design of Absa Capitalâs market risk solution and look forward to completing the first phase of the project. With Algo Market Analytics, we believe that Absa is gaining a competitive edge in managing market risk.â
Algo Market Analytics supports market risk capital measurement, management and mark-to-market, enabling calculation of minimum capital under standardized and internal model approaches. By enabling a firm to capture a fully integrated view of risk, Algo Market Analytics helps financial institutions eliminate the costs and inconsistencies that result from accommodating multiple systems and competing standards across the enterprise.