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QuIC reports credit risk contract win

08 May 2009  |  1807 views  |  0 Source: QuIC Financial Technologies

QuIC Financial Technologies, a leading global solutions provider of risk management, pricing and financial analytics, today announced a major institutional investor has selected the QuIC Credit Risk Solution to optimise its risk infrastructure.

This highlights continued strong adoption of QuIC into new markets, and signifies entry into the asset management sector.

The QuIC Credit Risk Solution will enhance the institutional investor's counterparty exposure management system and enable their risk managers to effectively manage the risk associated with their trade assets.

"We're extremely proud our solution has been chosen by a major institutional investor," stated Nigel Cairns, President and CEO of QuIC. "This new client relationship reinforces our strategy of growing new market regions, and validates that our solution goes beyond our traditional client portfolio."

"The global banking industry is changing. QuIC has responded by extending our solutions to meet market and credit risk requirements for new niches and markets," added Justin Forrest, Executive Vice President of Global Sales for QuIC. "This new client will be using our solution for limit utilisation, which not only is a new use for QuIC technology, but it also demonstrates the flexibility and scalability of QuIC technology to manage trade assets, going above and beyond the traditional uses of our technology in the front and middle office."

As the banking industry faces increasingly stringent regulatory guidelines and accountability for counterparty exposure risk, this major institutional investor selected QuIC's solution to take a proactive approach to managing counterparty exposure. After a rigorous selection process, the QuIC Credit Risk Solution proved to be the most effective in managing their counterparty exposure, enabling their risk managers to quickly, accurately and reliably ensure their collateral holdings continuously offset their exposure.

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