Aurovision launches new software

MUMBAI: Business intelligence solutions company, Aurovision, has launched a new software product called Market Risk System (MRS), designed to help banks comply with Basel II norms in measuring and monitoring their market exposure in securities, derivatives and options.

As per RBI guidelines and Basel II norms, banks are required to manage the market risks in their books on an onging basis and ensure that the capital requirements for market risk are being monitored on a continuous basis.

Aurovision's MRS has been developed on RBI's recommended "standardised duration method", a company release issued here today stated, adding that it is a trading plaform independent product, user-friendly and can be customised according to each organisation's needs.

The product is packaged in three diferent levels of offering--MRS Standard, MRS Professional and MRS Enterprise.

Major banks such as HDFC Bank, Kotak Mahindra Bank and Ye Bank have already opted for the product, the company claimed.