ABN Amro North America has extended its implementation of SunGard Trading and Risk Systems' BancWare product to include funds transfer pricing and data management. ABN Amro will now use the BancWare Insight product to collect, clean and synthesize transaction level data from business lines and feed the data into BancWare Convergence for asset liability management to manage risk across its balance sheet through a single platform. The firm uses BancWare at its Chicago headquarters to manage risk on almost $90 billion in retail and commercial banking assets.
Bayerische Landesbank has selected Algorithmics' Algo Collateral solution to manage all of its current and future cross product margining requirements. BayernLB will also leverage the solution to update its limit systems with intra-day collateral balances and update its regulatory data warehouse with capital requirements and collateral trade costs. BayernLB also purchased Algo Collateral's reconciliation and data entry modules to automatically resolve valuation discrepancies and provide heightened security around data changes.
Financial Engineering Associates has opened a new London office to better service its European client base. The London office will be managed by Paul Stefiszyn, FEA general manager, Europe and is located at 164 Bishopsgate, London EC2M4NY, UK.