Internet fever has spread to the credit derivatives business. In the last few months, a bunch of credit trading sites have popped up, such as credittrade.com and creditx.com, which plan to go live by the end of the year.

Meanwhile, another web site, freecreditderivativesstrategy.com, hit the ether in August, offering market implied-default rates for a variety of credit qualities (from AAA to BAA3) in four industries: banking, finance, industry and utilities. The best part: the data are free.

Savvysoft, a New York-based software vendor, is the site’s proprietor. It gets broker quotes from MCM, a New York-based data vendor, and feeds them through its TOPS 2000 credit derivatives software to come up with the default rates.

Savvysoft customers get additional benefits. TOPS 2000 can be configured to receive a live feed from the site, and both can interface with Excel.

The site, beams Savvysoft president Richard Tanenbaum, “is a gold mine of relevant information for anyone in the multitrillion-dollar corporate credit market. It will be an invaluable resource not just for credit derivatives traders and salespeople, but also for credit analysts, bank loan officers, rating agencies, equity analysts, risk managers, insurance and reinsurance companies, bond portfolio managers, and hedge fund managers.”

Next month, Savvysoft plans to offer the second generation of freecreditderivativesstrategy.com, which will include, among other things, the market implied-default rates for specific corporate and government bonds. The company plans to link future iterations of the site more completely with TOPS 2000, as part of a broader Internet strategy.

New Products and Releases

Company	Product	Contact
RiskMetrics	Implied volatility data set for foreign exchange and precious metals risk analysis. For use with RiskMetrics’ DataMetrics time-series data warehouse application.	Ethan Berman www.riskmetrics.com
Allegro Development	Allegro Coal. Integrates capturing, executing purchases, sales, contracts, transportation and storage, as well as exchanges and physical options.	Michael Robinson 214-526-7071 x121 www.allegrodevelopment.com
Sophis	Back-office module for Risque 4.0, Sophis’ equity and equity derivatives trading system. The latest version incorporates a confirmation and payments module that is fully integrated into the trading system.	Katy Birch 44-207-680-2700 katy@sophisuk.demon.co.uk
Sophis	Financial Integration Toolkit. A development tool consisting of a set of C++ objects that enables users to overload, amend or create new C++ classes within Sophis’ Risque system to integrate specific market-data types, proprietary-trading models, and new or highly structured instruments and risk scenarios.	Katy Birch 44-207-680-2700 katy@sophisuk.demon.co.uk
ADP Brokerage Services Group	Foreign exchange, money markets and related derivatives outsourcing solution. Allows clients to pay for trades on a fixed per-ticket price. Based on OMR Trading Assistant, an STP engine.	Arlene Driscoll driscola@bis.anp.com
Reuters	Kondor+, version 1.9. An upgraded version of the firm’s front-office trading and risk management product.	Adam Wolf adam.wolf@reuters.com
ATSM	New equity and exotics modules for Tradix, the firm’s trading and risk management system.	Jean-Pierre Aguilar 33-1-41-27-95-00
Risk Management Solutions	RiskBrowser. An Internet-based tool set for property-based insurance underwriting.	Lois Kiriu loisk@riskinc.com
Wall Street Systems	WSS Back Office. Allows STP processing for FX, money markets and securities trading as a standalone solution or as an integrated module of Wall Street Systems.	Martin Ruskin martin.ruskin@ wallstreetsystems.com

Product Sales

Company	Sale To	Product	Contact
Algorithmics	HSBC	RiskWatch. The product is used to deal with counterparty credit risk management.	www.algorithmics.com
International Financial Systems	Commerzbank	MarginMan. Web-enabled risk management and position-keeping suite.	www.ifs.ie
MKIRisk	Commonwealth Bank	Global Manager/Risk Vision. The bank has successfully upgraded to version 2.2.	Simon Creed, 650-354-0419
Synopsys	BB Securities Ltd., the capital markets arm of Banco do Brasil	RIMS. Used to enhance emerging-markets trade processing.	www.synopsys.ltd.uk
Trema	Johnson Controls	Finance KIT. Integrated treasury, risk and asset management system.	www.trema.com
ATSM	Sussex Futures Ltd.	UBIX back-office package. Used to expand existing activity and develop a private client business.	Didier Bouillard 33-1-41-27-95-00
Infinity, a SunGard company	ABN Amro	Infinity Derivatives. Extends use to additional sites along with comprehensive consulting project.	Samantha Howard samantha_howard@ infinity.com
Principia Partners	M. Safra & Co.	Principia Analytic System. Risk management tools used to evaluate risk under expected, historical and stressed conditions.	John P. Bradbury 201-946-0300 x108

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