TPI Data to Fuel Risk Modeling Alliance

Tullett Prebon's derivatives, credit and rates data will be used in a series of open-source risk analytics tools.

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The partners see standardization of risk models as a significant opportunity, driven by the plethora of new regulations impacting banks that have been introduced over the past decade.

"Open-source software and transparency around risk models bring tremendous benefits to the industry. There's no longer a serious competitive advantage, at least for regulatory risk models, in being opaque about how you do it," says Quaternion chief executive Donal Gallagher. "It would nearly suit everybody in the i

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