The Ford Motor Company has renewed its licenses to use SD-FX™, the benchmark currency option pricing system from SuperDerivatives.
"We are very pleased that Ford has chosen to renew its licenses to use SD-FX for their day to day hedging and risk management activity. We are continuing to put a lot of effort in targeting the corporate sector in the USA. The fact that Ford will continue using our system is very encouraging for us, as this sector still remains largely out of reach to independent vendors," says Jeffrey Kletzel, Director of Sales at SuperDerivatives.
"Increasingly, corporate users of derivatives are coming to realize the importance of having access to independent, powerful and easy to use pricing systems. The need to price derivatives accurately, as well as the ability to revalue portfolios with real market rates, has never been greater. The FX market has been very volatile recently and forced many hedgers to rethink their strategies. Having accurate real time prices and risk management is crucial to react promptly to market changes," he adds.
New accounting standards that have been imposed in the US (FAS 133), and which will soon be implemented in Europe (IAS 39) and elsewhere, have presented many challenges to the buyside in how it manages its financial market risk.
"Many companies now realize that a key requisite to surmount these challenges is to have access to accurate and independent derivative pricing. The accuracy of SD-FX is proven and it is widely regarded in the interbank market as the benchmark options pricing system. This is because it produces the market price for all types of options in both major and emerging markets currencies, something that makes it unique. Many buyside institutions now recognize this as well; we believe that the system is indispensable to anyone who is involved in trading or managing currency risk," Kletzel concludes.
The customer base of SuperDerivatives ranges from global investment banks, such as Citibank, JP Morgan Chase, Merrill Lynch, Société Générale, Commerzbank, and Mizuho, to central banks and corporate treasuries, such as IBM, Alcatel and Ford. SD-FX is also used by leading accountancy firms and auditors, such as Deloitte & Touche and Ernst & Young, as well as hedge funds and single users.