PALO ALTO, Calif. - Cats Software Inc. announced that several large banking companies have licensed its computer-aided-design financial software, known as Ficad.
The institutions include Bankers Trust New York Corp., Tokai Bank Europe, and Mitsubishi Finance International.
Based on an object-oriented approach to programming, Ficad enables traders, risk managers, and product developers to create in a few days applications to monitor any financial instrument.
"Computer-aided design tools have been successfully applied in every other major industry over the past decade," said Rod. A Beckstrom, chief executive of Cats. This software "brings the power of (computer-aided design) to finance."