Risk management software firm Algorithmics said that it will work with Societe Generale Corporate & Investment Banking to develop a counterparty credit valuation adjustment product that SocGen can use to actively price and manage counterparty credit risk across all asset classes.
"Pricing and active management of counterparty risk are of critical importance to financial institutions and they place rigorous demands on CVA software for performance, real-time response time and front office 7X24 operations," says David Murphy, head of the CVA desk at SGCIB in a statement issued by Algorithmics on Thursday.
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