TECHNOLOGY
TECHNOLOGY
JP Morgan has unveiled plans to completely re-engineer the Fourfifteen value-at-risk calculation application developed by the bank's London-based risk management products division. Fourfifteen currently tuns on PCs under Microsoft's Excel spreadsheet. The application is used by some 40-odd financial institutions and corporates to calculate VAR figures using JP Morgan's Riskmetrics volatility data service.
But JP Morgan has now teamed up with The Mathworks, a Massachusetts-based software company
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