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Risk Management

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JP Morgan Chase & Co. signs independent software vendor agreement with Versata; SunGard Trading and Risk Systems develops analytics service for measuring credit risk; United States Bankruptcy Court approves SunGard acquisition of Availability Solutions business of Comdisco.

JP Morgan Chase & Co. has signed an independent software vendor agreement with Versata, a provider of business logic software and services. Under the agreement, JP Morgan Chase will resell Horizon, its operational risk management application built using Versata middleware, to third parties. JP Morgan Chase initially purchased the Versata Logic Suite to build its internal risk assessment program and runs the Versata Logic Server in environments including Oracle, Sybase, NT and Unix.

SunGard Trading and Risk Systems has developed an analytics service for measuring credit risk exposure in real-time to be incorporated into its Credient credit risk analytics offering. The methodology, called Credient MC2, approximates Monte Carlo simulation to determine credit risk exposure and facilitate faster decision making. The MC2 methodology produces a profile of credit exposure in real time and uses closed-form valuation functions to enhance speed. The Credient service also offers full Monte Carlo simulation and grid Monte Carlo simulation using commensurate valuation and risk factor models for comparison.

Separately, the United States Bankruptcy Court for the Northern District of Illinois has approved the SunGard acquisition of the Availability Solutions business of Comdisco. The closing of the transaction is subject to a favorable ruling by the United States District Court for the District of Columbia in the antitrust case filed against SunGard and Comdisco by the U.S. Department of Justice. The acquisition includes the domestic operations of Comdisco's continuity services business, professional services organization and Web hosting business, as well as the corresponding operations in the United Kingdom and France.

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