Raft International, a component systems provider, is marketing an operational risk system originally developed for Dresdner Kleinwort Wassterstein's London equities desk. The browser-based Raft system is a rules-based workflow solution that maps a firm's structure, geographic spread, business processes, product structure and control environment into an automated loss measurement and management solution. The Raft Radar application will now be available for firms to use either as a plain-vanilla solution or with additional modifications according to specific requirements. Key risk indicators functionality will be added to Radar in the first quarter of next year. Raft is also working with Hewlett-Packard on an ASP model to offer Radar on a pay-per-use basis for the financial services community.
The Cornell Theory Center, a high-performance computing and research center at Cornell University, has subscribed to Kamakura's Kamakura Risk Information Services U.S. Treasury yield curve database (KRIS-yc). Through its satellite facility in New York City, the center has a special focus on Windows solutions for computational finance. The database is used for credit risk management, performance measurement and simulation benchmarking, as well as academic research. The risk information covered includes daily U.S. Treasury forward rates, zero coupon bond prices, zero coupon yields, straight bond yield curves and amortizing bond yield curves for monthly, quarterly and semiannual payment dates and maturities out for 31 years. The KRIS-yc database contains more than 40 million data elements.