International Financial Systems said it has signed a major risk management software contract with Royal Bank of Canada. Canada's biggest bank will use the MarginMan Version 2.0 system for global risk management. It will be rolled out in trading centers in Toronto, London, New York, Singapore, and Sydney.
Royal Bank will let customers trade foreign exchange and forex options 24 hours a day, seven days a week, taking advantage of advanced risk management techniques. "MarginMan Version 2.0 will allow us to expand both the range and quality of services for the benefit of our clients," said Steven de Vos, the bank's senior manager of business development.