One of the banks taking them out to develop the platform in house wouldn't be beyond the realms of possibility... the other alternative is one of the other risk platform software cos. May be worth a punt at these levels. They've only got to jag one decent mandate if not T/O'ver beforehand. IMO, DYOR.
The one thing they have going for them is Ellis Bugg is a legend of the swaps market and very well hooked into the major banks.
not a great report, page-8
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