Reference data experts Cicada and Investors Guaranty – a self-styled international group of 75 public and private companies that share technologies, risk management methodologies, asset management and fund administration, legal and accounting systems, administrative and corporate management services, branding, media and information technologies – have merged their risk management solutions into one set of applications. They will trade as CicadaRisk.
CicadaRisk aims to provide a wide selection of risk management solutions tailored to the requirements of asset managers, pensions and endowments, hedge funds, investment consultants and insurers.
The products and services range includes risk management solutions powered by Algorithmics’ Algo Suite risk analytics and functionality, which is supported by Cicada’s data management technology and services.
Cicada says the approach to pricing the melded risk management solutions is designed to be consistent with asset management industry standard pricing structures, based on such factors as assets-under-management, with no large upfront fees. Deployment options include ASP, hosted, and remotely-managed on-site implementations.
In addition to its core risk management solutions, the group intends to provide a variety of data products and third-party application integration services. CicadaRisk will also offer Insygne, a solution tailored to the requirements of insurance investment risk management.
Richard Bennett, previously head of UK and European sales for Cicada, will lead the CicadaRisk business and strategic development effort from London.