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ALCHEMY WINS FIRST PRIZE AT SOFTWARE
COMPETITION HELD BY KRL
23rd July 2005
Islamabad, Pakistan - Alchemy Associates / Alchemy Technologies
today won first prize in the commercial and professional software
category at the All Pakistan Software Competition and Exhibition
organised by Khuta Research Laboratories. The competition commenced
on July 23, 2005 and concluded on July 25, 2005. It was divided
into three categories: professional and commercial category,
student category and, the under-16 category. Alchemy presented
its flagship product, the Alchemy Risk Manager, and picked the
first prize amongst 12 other participating firms.
Alchemy Risk Manager is a Basel II complaint solution which
offers additional features such as treasury and risk adjusted
return calculator, derivative pricing engine, interest rate
simulation model, value at risk estimator, portfolio benchmarking
and back testing tool kit.
The All Pakistan Software Competition & Exhibition (SC&E)
is a more than 15-year-old industry exhibition that show cases
locally developed solutions, judged by a blue ribbon panel
of academic and industry representatives.
Awais Ahmed Khan Leghari, Federal Minister for Information
Technology, was present at the prize distribution ceremony,
where he addressed the gathering and distributed prizes amongst
the winners. He remarked that the aim is to “bring the
best out of the best and our country has scores of high-calibre
professionals capable of developing and producing world-class
IT products and services.”
Alchemy Associates / Alchemy Technologies is a boutique risk
management and actuarial consulting firm with 20 employees
and a growing portfolio of blue chip customers in Pakistan
and Middle East.
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