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South African Banks Renew Algo Risk Contracts
Three of South Africa's leading banks have renewed market service contracts with Toronto-based risk management software firm Algorithmics.
Absa and Standard Bank have signed renewals for Algo Market, while Nedcor's renewal is for an integrated credit and market risk solution with full Algo Suite functionality. Nedcor will continue to use the Mark-to-Future methodology that underlies Algo Suite. This allows for new scenario-generation techniques
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