IBM has launched a new application and data continuity service to safeguard customer networks, provide back-up systems for data and uninterrupted access to that data. The new service will remotely copy data and applications that can be managed from a single control point. A controlled site switch will also be available for planned and unplanned outages to maintain data integrity across multiple storage subsystems, which can be functioning within minutes from the secondary site.
Dr. Stephen Figlewski and Dr. Stephen Kealhofer have joined the Blue Ribbon Advisory Panel of the Professional Risk Managers' International Association. The Panel provides independent oversight during the writing of PRMIA's bylaws and offers strategic guidance to its Interim Board of Directors. Figlewski is a Professor of Finance at the New York University Leonard N. Stern School of Business and is the founding Editor of The Journal of Derivatives. Dr. Kealhofer is a founder of KMV, now a part of Moody's, and currently serves as Managing Director of Moody's KMV. The PRMIA also announced that Algorithmics has joined as a major corporate sponsor. Algorithmics will provide financial and non-financial support for PRMIA.
The International Swaps and Derivatives Association is calling for participation for the Equity Derivatives Working group for the Financial-products Markup Language standard. Once the basic equity derivatives have been included in FpML Version 3.0, the working group plans to extend coverage into more exotic equity derivatives. The group also plans to start work on Version 4.0 of the standard, which will include option features such as Asians, Barriers, Baskets, Bermudans, Binaries, Quantos and Composites.