UBB will start by implementing the SD-FX foreign currency module for its trading and sales desks.

UBB is Bulgaria's largest provider of corporate banking services, supporting customers such as Shell, LUKOIL, Metro, O & B and the Bulgarian Electric Company. It is a leading market maker in the Bulgarian Lev (BGN) currency markets.

"The SuperDerivatives platform has significantly improved our trading effectiveness, resulting in increased volumes, margins and profits. Prior to deploying the platform, we had to get data from different brokers and banks and then manually perform the calculations which wasn't always very accurate or scalable," said Ivan Koutlov, Head of Treasury, United Bulgarian Bank. "The increased price transparency, smart marketing tools and customized hedging strategies that SuperDerivatives provides are a tremendous boost to our options business and give us a strong competitive edge with our corporate customers. We're now looking at expanding our SuperDerivatives platforms to include other asset classes."

Web-based SD-FX now supports over 150 exotic options and structured products as well as baskets, cross-asset hybrids and other correlation based structures. It integrates real-time market data for over 100 currency pairs including all emerging markets from Peru to Vietnam.

"We welcome United Bulgarian Bank in joining the vast majority of banks in the CEE (Central and Eastern Europe) region and across the EU (European Union) that are helping their corporate customers more effectively hedge risk using SuperDerivatives. Both multi-national banks and smaller regional banks are realizing that their trading and sales desks need best-of-breed platforms designed for real time pricing accuracy, short learning curves, and personal and group efficiency," said Udi Sela, Head of Product Support, EMEA, SuperDerivatives. "MiFID (Markets in Financial Instruments Directive) begins this month and European banks are preparing in earnest to ensure 'best execution' of all transactions. SuperDerivatives can help UBB with the best execution of OTC option trades by accurately and consistently reflecting the consensus price in the inter-bank brokered market."