TD Securities has announced plans to develop a new derivatives trading and real-time risk management system, and has entered into an agreement with NumeriX to be the project's architect and general contractor.
"This new integrated system will enable TD Securities to consolidate information from key areas of our firm to provide an accurate real time view of risk, to both our trading desks and our management team," says Mike MacBain, vice chair, debt capital markets at TD Securities.
The global cross-asset trading platform will be released in several phases and will be fully implemented in 3 years, he says. The scope of the project includes credit derivatives, fixed income derivatives and equity derivatives.
McBain says the firm selected New York-based specialist NumeriX for its domain knowledge and proprietary technology in pricing and cross-asset risk.
Craig Bouchard, president and CEO of NumeriX, adds: "Recent advances by NumeriX in pricing and hedging of cross-asset derivative portfolios has provided us this opportunity."