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Numerix opens Sydney sales office

20 October 2010  |  2790 views  |  0 Source: Numerix

Numerix, the leading provider of cross-asset analytics for derivatives valuations and risk management, has opened a new regional sales office in Sydney, Australia.

The new Sydney office increases the total number of Numerix Asia-Pacific (APAC) offices to seven. The office will be managed by Jack Drewe, Regional Sales Director, who is responsible for the Australian and New Zealand regions. The new Numerix office symbolizes the established nature and importance of the derivatives markets in Australia and serves as a validation of Numerix's strategic commitment to the region and to providing sales and analytical support at the local level. Drewe will report directly to Erdem Ozgul, Vice President, Numerix Asia South Sales Operation.

The growth of the APAC derivatives markets over the past 12 years has been matched by the growth of Numerix. This mutual expansion has now led to the opening of the Numerix Sydney office and to the ongoing creation and "packaging" of Numerix pricing and risk management products catering directly to the insurance, OTC derivatives (FX, commodity) and structured products markets across the region.

"We are pleased to now be in a position to provide permanent local support for our Australian clients," said Numerix President and COO, Steven R. O'Hanlon. "Given the established and dynamic nature of the derivatives markets across the region, having local sales support for our Australian clientele is critical as we assist institutions in developing the best practices necessary in this market. I am confident in our firm's continued ability to grow and package our products targeting such strategic areas as risk, insurance/ variable annuities, commodity derivatives and to making sure that we continue to meet the overall pricing and risk management needs of our clients across the region."

Numerix Quantitative Advisory Board member and co-developer of the BGM model, Dr. Alan Brace stated, "I would like to congratulate Numerix on establishing their direct sales presence in the Australian derivatives markets. Their pricing models and risk management tools will provide users across the region with the close to cutting edge technology needed to effectively manage their increasingly complex day to day derivatives and insurance operations."

Professor Erik Schlögl, Director of the Sydney based, Quantitative Finance Research Centre (QFRC) at the University of Technology, Sydney (UTS) Faculty of Business stated, "The Numerix CrossAsset platform has become an industry standard for pricing and risk management of structured financial products. Numerix's direct entry into the Australian derivatives markets reflects how advanced and mature the markets in the region have become."

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