Merrill Expands Use Of Numerix Risk Management Algorithms
NEW YORK--Merrill Lynch has purchased the RiskXpress component of the Numerix Time Library to interface with the SimXpress and TreeXpress modules it licensed late last year. Sources say the VAR module will be used by Merrill's derivatives technology group as a component of its new derivatives risk management system, currently under development.
Bank officials were unavailable for comment by RMO's press time, but a source confirms that Merrill will be plugging RiskXpress into an existing tool set
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