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.
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
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