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Risk Management

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Risk Management Briefs

Commonwealth Bank of Australia goes live with SunGard Trading Systems/FRONT eGlobal Trader; Creditex opens Singapore office in response to the global credit-derivatives market; Unicredit Servizi Informativi goes live with Rolfe & Nolan's RANmargin product.

Commonwealth Bank of Australia went live with SunGard Trading Systems/FRONT eGlobal Trader (EGT), a browser-based dealer-distribution system, being used to support front-office deal capture of foreign exchange and money markets as well as risk management. Nine of the bank's distribution-dealing rooms located in Sydney, Melbourne, Brisbane, Adelaide, Perth, Auckland, Tokyo, New York and London, will use the system for pricing, capturing and processing customer's foreign exchange transactions, including spot, forwards, swaps, FX extension/pre-deliveries and multi-currency money market (loans and deposits). Geoff Kelly, Commonwealth's general manager, business systems, in the bank's Institutional and Business Services Division, stated in a release: "eGT automates the creation of covering trades by quickly distributing all FX and interest-rate risk positions to all our local and remote dealing locations. These positions can then be more effectively managed centrally in real time by our traders."

Creditex has opened a Singapore office to focus on Asian business in response to needs in the global credit-derivatives market. The new office, headed by Greg Shinnick, head of Asian business for creditex--who use to be a senior marketer in the New York office-- is working with financial organizations in Singapore, Hong Kong, Tokyo and Australia that are increasing utilizing credit derivatives to hedge and acquire credit risk. creditex offers the RealTime trading platform that allows traders to monitor and update positions using a simple, spreadsheet-style interface.

Unicredit Servizi Informativi (USI), the information technology arm of UniCreditor Italiano Group, has gone live with Rolfe & Nolan's RANmargin product. USI is using RANmargin as a risk-management component in its order-management system to handle intra-day margin calculations. USI will be using RANmargin as the margin engine for its European central-counterparty (ECCP) project, whose live date is scheduled for spring 2003. RANmargin handles over 50 exchange-margin methods and runs over a variety of platforms including Sun/Unix, Windows 2000/NT and Open VMS.

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