OpenLink Financial, a provider of cross-asset trading, risk management and operations software solutions, is planning to acquire CubeLogic. With CubeLogic modules, OpenLink will be able to offer a solution that will extract from existing financial data sources, operational systems and other trading platforms, including OpenLink’s software solutions, to allow risk officers to analyse risk across the entire corporate structure.
Through this acquisition, OpenLink aims to enhance its credit risk capabilities and to broaden the risk solution offerings beyond those found in its current suite of transaction and portfolio management solutions. CubeLogic offers a flexible, self-service environment for event-based, ad hoc, and intraday reporting and a detailed reference data capture system.
Kevin Hesselbirg, OpenLink chief executive officer (CEO), said: “The growth seen in the commodity markets over the past 10 years has been significant with record returns and volatility. As organizations have positions that become profitable, their counterparty exposure increases. We are excited that CubeLogic’s domain experts and software modules allow us to extend our already formidable credit risk abilities across our customers’ multiple legacy platforms, creating one aggregated view.”
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