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Hotspot FX delivers data from MNI; BNY and Wachovia sign on with OpVantage for operational-risk data.

Hotspot FX will now be distributing foreign-exchange news and analysis from Market News International, a New York City-based real-time news agency focused on foreign currency and the fixed-income markets. MNI will also provide its archived database. Customers of Hotspot FX, a real-time spot-FX exchange, will distribute the data free of charge to all clients globally.


The Bank of New York has licensed OpVar, a collection of data, analytics, reporting and modeling functionality, as well as external data from OpVantage. The operational-risk-management vendor is a division of New York City-based Fitch Risk. After piloting the software, BNY is now rolling out the solution across its enterprise.

Marie Gaudioso, managing director for The Bank of New York's Operational Risk Management Department, said in a statement, "We expect the tools to provide us with the flexibility to continuously enhance our methodologies and ensure that The Bank of New York remains at the leading edge of risk management best practices."

In addition, OpVantage has signed on Wachovia for a subscription to its Financial Institutions Risk Scenario Trend (FIRST) database. The firm will use the database content in its enterprise risk-awareness and self-assessment programs.

The database is a collection of case studies on nearly 4500 operational-risk-loss events. Wachovia will also use OpVantage's quantitative database of external loss events and data points for development of an operational-risk-capital model.

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