Danske Bank Licenses Algo Collateral For Derivatives Margining
Danske Bank of Denmark has licensed Algo Collateral to be the software platform of choice to manage their OTC derivative and repo-margining activities. The deal marks the first client for Algo Collateral in Scandinavia and reinforces the product’s standing as the most widely used solution for collateral management with 36 global clients. Danske Bank is already an Algorithmics client, having licensed the Algo Market risk management solution in June 2001. Algo Collateral will replace Danske’s existing in-house system. ‘Our current resources and collateral management processes were overstretched,’ said Mogens Dalhoff, First Vice President of Danske Bank.