Tuesday, July 08, 2008

FT.com / Companies / IT - Autonomy eyes benefits from data regulation

Sign of the times

Autonomy Corporation, the software company whose products helped uncover the actions of Jérome Kerviel, the rogue trader at Société Générale, has been buoyed by growing demand for software that archives sensitive corporate data.

[...]

At the start of this year, Autonomy software at SocGen discovered inconsistencies in the trading records of Mr Kerviel, the rogue trader who cost the French bank €4.9bn (£3.6bn). The software discovered that e-mails produced by the trader to his supervisor, purporting to show a hedging trade, did not correspond to internal records.

“The system took those e-mails and then compared them against what Kerviel had actually sent, and it realised that the e-mails that were being sent to the boss were not being sent to the system,” explains Mr Lynch.

Four investment banks have since bought licences for Autonomy software.

FT.com / Companies / IT - Autonomy eyes benefits from data regulation

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