TECHNOLOGY
TECHNOLOGY
Bank of Montreal (BMo) has gone live with a new risk management system developed by Palo Alto, California-based Cats Software. Bank officials say they are using Cats' Carma risk engine to calculate VAR across a range of foreign exchange products.
Graham Pugh, director of quantitative risk management at BMo, says the bank chose Cats because the vendor was offering a "more integrated risk management application" than its competitors.
Carma is now being used at BMo's Toronto headquarters to
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