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MB Risk Management (MBRM),
founded in 1988 and recognized pioneers in financial analytics, is pleased to
announce that it has purchased the rights to use the entire software
intellectual property of Cygnifi Derivative Services LLC. |
Cygnifi was
formed by
J.P. Morgan in February 2000 to develop applications for derivatives
pricing, portfolio valuation, credit risk management, and collateral
management. Many of these applications have been based on software acquired
from J.P. Morgan through the spin off and are considered to be "best in
class."
http://www2.jpmorgan.com/CorpInfo/PressReleases/2000/02012000_Cygnifi.htm
The entire collection of Cygnifi's Intellectual Property
was valued at US$ 42 million at the company's formation. Subsequent to which
US$ 22.3 million in first round financing was raised in August 2000, which
further enhanced and expanded Cygnifi's product range. Cygnifi filed for
bankruptcy protection in October 2001.
Dr. Mamdouh Barakat, President and Chief Executive
of MBRM, has been at the forefront of derivative software for fifteen years. In
1988 he founded MBRM and has succeeded in building up a client base of over
1,500 institutions and 30,000 users world-wide. He believes the acquisition of
the rights to the Cygnifi applications will significantly enhance the existing
MBRM product range. He added, "when I was approached to acquire the rights I
saw it as an opportunity to expand our presence and profile within the market.
These applications will complement our existing toolbox approach and complement
many of our
existing initiatives. MBRM aims to enhance its existing UNIVERSAL
range of software and services by integrating them with the best components from
Cygnifi's systems and promoting a best of breed solution. The enhanced
offerings will be fully supported by MBRM". Dr. Barakat commented that "it is
intellectually exciting to be involved with the constant evolution of analytical
and risk management products but the compelling challenge has always been to
remain committed to the clients' needs and provide consistent product support
and enhancements which keep up to the clients' evolving requirements".
Among the intellectual property acquired by MBRM
from Cygnifi are :
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Kapital Risk Management System, a portfolio and risk management application;
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Aladdin, a spreadsheet based multi-currency pricing tool;
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Cygnifi Analytics Library, the result of seven years of development;
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Sampras, a system for
monitoring counterparty credit exposure and risk;
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Collateral Manager, a
collateral operations support system;
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Collateral HeatMap,
which provides collateral managers with advanced tools for evaluating risk in
a collateralized portfolio;
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Trinity, a legal
information service;
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Jamshidian Swap
Market Model, a leading edge, proprietary swap market model;
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BLUE Derivatives
Pricer, a derivatives valuation application;
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Djinni Swaps Pricer,
an interest rate swap valuation application;
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Derivates Studio
Web-based Derivatives Pricer, an interest rate and FX derivatives valuation
system;
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Vizz Valuation
Service, a web application to manage a portfolio of flow and exotic interest
rate derivatives online;
-
Mondrian, a P&L and
Positions consolidation system.
Further details of the MBRM-Cygnifi collection of software can be
found at :
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