Software gets upgraded currency capabilities: CMS improves BondEdge program
LOS ANGELES -- Capital Management Sciences Inc. is equipping its BondEdge for Windows software with the ability to handle multiple currencies because of increasing client demand.
CMS was preparing to add multiple currency functionality to its leading fixed-income software product two years ago. But the 2,000 users of BondEdge pushed for software development in other areas. CMS executives put the multiple currency project on a slow burner.
But in a recent client poll, CMS executives found 25% of their surveyed clients listed multiple currency features as "very important," said Terry Geske, vice president of product development for CMS.
Many CMS clients have about 5% or 10% of their portfolios in non-U.S. fixed income investments, said Ms. Geske. The new multicurrency capability of BondEdge will help clients identify the currency exchange rate risk in their portfolios.
It also will identify how much of a portfolio is exposed to currency risk in individual countries, and how much of a portfolio's assets are in fixed-income instruments from each country.
A fixed-income instrument issued in a foreign country can be denominated in U.S. dollars. But even without the currency risk, there are economic and political risks in each country with which to be concerned, said Ms. Geske.
BondEdge's multicurrency capability also will help portfolio managers with cash flow forecasts from nondollar investments and allow portfolio managers to get a better overall look at their portfolio.
The new software also should make it much easier to prepare reports for clients, she said.
Many clients now track their non-U.S. fixed-income instruments on separate software systems, said Ms. Geske. The multicurrency capability of BondEdge for Windows is expected to be ready sometime this spring. No cost has been set yet.
Aeltus signs on to PAM software
HARTFORD, Conn. -- Money management firm Aeltus Investment Management Inc., Hartford, Conn., has licensed PAM investment management software from Princeton Financial Systems, Princeton, N.J.
"PAM offered us a solid and mature accounting platform from which we can operate our current and future institutional business," said Michael Sheridan, Aeltus vice president and assistant treasurer, in a prepared statement.
For more information, call Gordon Gacek at Princeton Financial Systems, at (609) 987-2400.
BARRA touts new software for risk management
BERKELEY, Calif. -- BARRA Inc. officials say their latest global fixed-income risk management software is faster and offers risk modeling for more instruments, including futures contracts for the European currency unit.
The Berkeley-based firm added the ability to model the effects on a portfolio of several additional types of futures contracts. Users of the global fixed-income risk software can specify information for instruments such as structured notes, which have nonstandard cash flows. The risk-management module also permits the user to put in terms, conditions and prices of new assets and model them.
For more information, call Roveen Bhansali at BARRA, at (510) 649-4563.
C*ATS, J.P. Morgan cooperate on software
PALO ALTO, Calif. -- C*ATS Software Inc. will integrate its CARMA software with J.P. Morgan's CreditMetrics.
CreditMetrics provides a standard methodology for quantifying the organizationwide risks associated with a broad range of financial instruments, including traditional loans, bonds, commercial papers, derivatives, letters of credit and other commitments.
C*ATS' CARMA software provides integrated market, credit and liquidity risk measurements.
CARMA enhances CreditMetrics analytics with features such as rapid Monte Carlo simulations of future potential risk exposures over a complete time horizon as well as adjusting credit exposures for collateral, C*ATS officials said in a prepared statement.
For further information, call Kristen Fuller at C*ATS, at (650) 321-3000.
Algorithmics seeks to work with other companies
TORONTO -- The risk management software company Algorithmics Inc. has announced new executive positions to help in efforts to form alliances with other software companies.
David A. Penny, vice president for software development at Algorithmics, has been named the company's chief technology officer, a new position. He will develop technological alliances to further strengthen the company's market position, a prepared release from Algorithmics stated.
Alliances often involve software interfaces that allow one software program to communicate with another.
Mr. Penny also will work with Algorithmics' other senior executives to set the direction of company products.
In addition, Michael Zerbs, Algorithmics president of research, has been named vice president of research and development, a new position. Mr. Zerbs will assume the software development responsibilities previously held by Mr. Penny, and will continue his work in research.
Buyers find Web valuable for financial information
BOSTON -- Some 57% of institutional buy-side clients answering a First Call Corp. survey said World Wide Web access is a "critical" or "extremely critical" source of financial information.
The survey was sent to First Call's institutional buy-side clients, contributing brokers and corporate clients in the United States. Some 86% of those answering the survey said they have Internet access at work; 67% said they have Internet access at home.
A survey of brokers found 46% have clients who access research via their Web site. Some 66% of them said they have an intranet, a computer network designed to process information within an organization.
Of First Call's corporate clients, 67% of those responding said the Internet is "important" or "very important" for receiving data and investor communications; 57% said the Internet is "important" or "very important" for transmitting financial data and investor communications.