JP Morgan Chase launches buy-side risk management product
JP Morgan Chase is launching a new risk management service, MorganRisk, to enable buy-side clients to gauge market risk in their own investment portfolios using the same proprietary methodologies used by the US bank.
MorganRisk, which will be beta tested in July, will initially cover a number of vanilla instruments, including equities, vanilla equity derivatives, fixed income, vanilla interest rate and foreign exchange derivatives, commodity derivatives and most mortgage-backed securities. The bank plans to expand the coverage after the intial launch period to include non-vanilla derivatives.
Clients can access the service on a number of different levels, from a basic set of risk exposure reports on a pre-determined schedule to on-demand reporting and online analysis for a number of users.
"MorganRisk will provide all the necessary market data and will use valuation models developed by traders, rather than by academics," said Lesley Daniels Webster, executive vice-president and head of market risk management at JP Morgan Chase. "The result is a risk service that covers more assets, more accurately than other commercial vendors."
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