Sela, previously Pre-Sales Director, has been appointed to the new role of FX and Cross-Asset Product Manager with immediate effect, and will lead the company to deliver customer needs through developing and offering exceptional solutions for foreign exchange derivatives and cross-asset products. Sela will report directly to Ravit Mandell, SD's Vice President for Products.

SD is the market's benchmark system for derivatives. It is used by most of the banks in the world that trade derivatives, as well as many large corporations and numerous hedge funds, brokers, auditors and central banks.

Delivered as an easily-integrated web service, SD's multi- and cross-asset solutions provide a combination of modelling power and flexibility to enhance the productivity and transparency of organisations' entire derivatives businesses.

In a single turnkey, thin-client pricing, trading and workflow application, SD brings together all the front- and middle-office functionalities required to compete effectively in a constantly changing marketplace.

In addition, SD offers a choice of innovative and effective revaluation solutions that enable users to manage compliance, market and counterparty risk and audit requirements.

Udi has been active as a senior derivatives trader and trading manager in top tier banks for many years. During the last seven years he has been involved in product development and pre sales functions within financial software vendors. He holds an MBA in Finance and Technology Management.

Udi Sela said: "In addition to the wide set of tools we have added to our systems in the past few years setting the standard for the FX market, SD's unique cross-asset capabilities have led the way in offering customers a comprehensive derivatives solution for their entire portfolio.

"The easily integrated and scalable set of tools allows users to adapt rapidly to the effect the current economic climate is having on the way institutions operate their derivatives business, whether on the buy- or sell-side.

"I believe that our cross solution provides the best cost-effective solution for institutions striving to best serve their clients' financial needs whilst maintaining strict financial discipline during these challenging times. Recent significant sales wins seem to validate this approach.

"SD's FX solution is the industry's leading tool used by traders, sales, hedge funds and corporations across the globe, and is a unique combination of accurate pricing, cleansed market data and functionality accompanied by an intuitive, easy-to-use interface."

"I look forward to leading the company in delivering our customers needs and helping them manage risk and maximise business opportunities in these challenging market conditions."

Ravit Mandell said: "Udi is an asset to SD's global product team, and I am delighted that we will be able to benefit from both his exceptional experience and knowledge of our market and the need for our solutions.

"He is very well placed to continue establishing our FX and cross-asset solutions as the market benchmark, increasing transparency and liquidity to the market as a whole.

"The business is currently well positioned, ambitious and right at the heart of the global derivatives industry as an innovator and provider of optimal pricing, market data and technology solutions across all asset classes."