TORONTO (HedgeWorld.com)–Algorithmics Inc. released a new version of its Algo Suite enterprise risk management software.
The new version, Algo Suite 4.5, includes advances in integration of economic capital measurement and regulatory compliance, new credit workflow functionality and a reduction in complexity and cost, according to a news release from Algorithmics.
Michael Zerbs, president and chief operating officer at Algorithmics, said in a statement that the updated Algo Suite would better help the firm’s clients meet the requirements of the Bank for International Settlements’ new framework for capital measurement and capital standards, more commonly known as Basel II.
“Our clients understand that Basel II is about better risk management and better business practices, not just compliance,” Mr. Zerbs said. “Through Algo Suite 4.5 enhancements to Algo Capital, we are enabling our clients to meet Basel II deadlines while supporting a longer term strategic risk management framework.”
Algorithmics was acquired earlier this year by Fitch Group.
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