Algorithmics, the risk management software company, has opened an office in the Dubai International Financial Center, raising Algorithmics’ total number of offices around the world to 22.

The opening of the Dubai office is in response to the firm's rapidly expanding business in the Middle East market and will enable Algorithmics to enhance its service levels to new and existing regional clients. Algorithmics will be offering its complete range of risk management solutions, services and content with full support from its global network and capabilities.

“In the current economic environment, when developed markets are going through financial stress, sound risk management solutions are critical for organisations to effectively identify, measure and manage risk.” Nasser Al Shaali, chief executive of the DIFC Authority said.

Neil McClurg, senior director, sales Middle East and Africa, said: “We are experiencing sustained and strong demand for our solutions across the region.”