Republic National Bank of New York said it would extend its use of Algorithmics Inc.'s risk management software from its New York base to all its offices.

Over the next year, RiskWatch from Toronto-based Algorithmics will be rolled out to trading and risk managers in the bank's major trading hubs, said Gideon Pell, head of Republic National Bank's portfolio risk management.

The Republic New York Corp. subsidiary also wants to integrate RiskWatch with its global trading and securities operations, to give it a common data source and analytical engine to manage exposures, limits, and capital use.

RiskWatch supports integrated credit and market risk calculations. As a result, the bank can manage capital more efficiently, said Ariel Salama, managing director and head of risk management for Republic.

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