19 December 2014

Citic implements Fincad analytics tech for Asian equity derivatives

23 July 2014  |  838 views  |  0 Source: Fincad

Fincad, the leading provider of OTC derivatives pricing and risk management solutions, today announced that CITIC Securities Company Limited (CITIC) has implemented Fincad's F3 analytics solution to support the growth of its equity derivatives business in Asia.

CITIC is one of the leading investment banks in China by total assets, revenue, net profits and assets under management. The valuation and risk solution based on FINCAD's F3 technology provides robust pricing and risk management capabilities including key risk sensitivities for vanilla and complex trades or portfolios enabling critical trading and risk management decisions. The first-order risk sensitivities are produced, using FINCAD's patented Universal Risk Technology™, in a fraction of the time it takes traditional curve bumping methods. The F3 analytics solution also distributes calculations and optimizes resources to make intra-day risk and valuation easier. These efficiencies considerably improved time to market for CITIC as they began trading more complex products.

Mr. Xu Xing Hai, Director of Equity Derivatives Business of CITIC said, "We use F3 to analyze risk for our entire options portfolio, including vanilla and exotic products. FINCAD provides near instantaneous analytical sensitivities for even the most complex structures."

"CITIC is one of the leading investment banks in China and we are very pleased to support their growing derivative business in Asia with our F3 solution," said Amar Budhiraja, FINCAD's Director of Strategic Business Development. "We appreciate the trust CITIC have placed in our technology and are committed to meeting China's growing demand for world-class financial analytics solutions with FINCAD's experts from our Beijing office as well as our offices in other global financial centers."

CITIC has plans to use FINCAD's F3 analytics solution to support trading in both Hong Kong and mainland China. This will require implementation of both Chinese market data and industry-standard global market data. "The FINCAD Professional Services team was very helpful in seamlessly implementing the F3 analytics solution," added Mr. Xu. "Between the training we received and how easily their solution fit into our current systems, we were operational in just a few months. This was instrumental in enabling us to get our new business off the ground as quickly as planned."

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