Risk Newsflashes

Dexia Banka Slovakia (Dexia SK) has contracted with Reuters to use Kondor+, its real-time position-keeping system to manage deals and positions on all instruments and asset classes.

In a release, Marek Bencat, deputy director of Treasury Department at Dexia SK, the bank needed a sophisticated risk-management system to handle a wide-range of transactions because it must comply with new regulations and is under increasing pressure to ensure transparent corporate reporting.

Kondor+ provides pricing, capturing and processing of any type of instruments. Its Open Trade facility has a builder and application programming interface (API) module to allow for designing tailored products, accessing proprietary products and integrating third-party financial libraries, such as NumeriX. It also provides a standard credit-derivatives model.

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HSBC Group is deploying risk-management software called Alchemist, from Dublin-based Norkom Technologies to detect and monitor fraudulent activity across its operations. The Alchemist platform helps financial-services firms protect themselves against money laundering, operational risk, card fraud and other financial crimes.

The system uses data-mining methods and analytics to provide information about customers, products, employees, channels and partners. It then automates the process of distributing the information to particular staff across the enterprise.

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Misys Risk Management Systems opened a development center in Bangalore, India and hired Vinutha Urs from DSL Software, a subsidiary of Deutsche Bank Group, to head up the team.

The Bangalore center will work closely with the existing U.K. team to enable faster integration of key regulatory and management functionality into Risk Vision, the company's risk-management solution.

Initially, the Bangalore team, which is targeted at growing up to 100 full-time staffers, will focus on the development of Risk Vision on the .Net framework.

Michael Van Leeuwen, chief executive of Misys Risk Management Systems, states, "The Bangalore center will strengthen our product development process by increasing our overall capacity and broadening our skills base."