First International Bank of Israel said it will use software from Algorithmics Inc. of Toronto to measure market and liquidity risk.

First International, a member of the Safra banking group, chose Algorithmics software because it has been tailored to Israeli banking regulations. Yossi Levi, the bank's assistant managing director, said the software's ability to handle peculiarities of the Israeli market was also a factor.

The software was customized for another Israeli institution, Bank Hapoalim, to "accurately link financial instruments to the cost of living and the rate of exchange against other leading currencies," Mr. Levi said.

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