ROME - Banca di Roma, Italy's fourth-largest banking group, has bought Algo Suite financial risk management software from Algorithmics Inc. of Toronto.

The bank has chosen KPMG to help it install the software.

The first phase of the installation project is to focus on market risk management and be completed by yearend. The software is to interface with a variety of front-office systems that support specific instrument categories.

The second phase of the project is to extend the installation to counterparty credit risk.

"Algo Suite was chosen because of its comprehensive instrument coverage and detailed modeling of local financial products," said Fabiano Gobbo of KPMG.

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