"Our software and expertise are well known in Italy with three of the leading Italian financial institutions as long term clients," explained Franco Marinotti, riskart's CEO. "We recently announced Version 5 of our software which has generated enquiries from all over the world from South America to New Zealand so we are actively looking for partners who can sell and support our solutions in their local markets."

A key driving force behind the interest is that banks, companies and local authorities are now realising the importance of managing derivatives properly. "The Back Office is often forgotten about," added Marinotti, "yet this is where the vital reconciliation of every financial contract has to be done on a daily basis, meeting all the relevant compliance and regulatory requirements. A large number of organisations still try to cope with manual systems based on spreadsheets and just fall further and further behind so they have no idea of their actual positions! The financial crisis has highlighted the shortcomings in Back Office systems; hence the flood of enquiries about our solutions."

The riskart software is designed to precisely address this problem by providing fully automated operational, administrative, accounting, cash flow and compliance support for structured derivatives - in particular, market traded and Over The Counter (OTC) derivatives. It is very flexible and versatile enabling it to handle a wide range of products including equity instruments, debt securities, structured derivatives, etc. and keep up with new regulatory requirements.

riskart is looking for companies that have a solid financial understanding of derivatives and the compliance regulations of their own country. Full training would be provided. According to riskart there is a business model for selling and supporting the software as well as a business model of providing an outsourced service for organisations, which may lack derivative expertise, to handledle the administration of their derivative portfolios.