Financial institutions Absa, Nedcor and Standard Bank are among four South African corporates to extend their contracts with Algorithmics for market risk management.
Absa, Standard Bank and Eskom - the largest electricity supply utitility in Africa - have signed renewals for Algo Market. Nedcor's order is for an integrated credit and market risk solution with full Algo Suite functionality.
All four entities first started using Algorithmics' risk management products beginning in 1996.