Numerix, the leading provider of cross-asset analytics for derivatives valuations and risk management has opened a new sales office in Beijing, China.
The new Beijing office expands on Numerix's existing position in the greater China region and represents Numerix's continuing commitment to the Chinese OTC derivatives markets by providing clients with support in the country.
"The expansion of our presence in China to now include Beijing is a natural progression for Numerix and we are pleased to be in a position to provide permanent local support for our clients," said Numerix President and COO, Steven R. O'Hanlon. "Our commitment to the APAC marketplace goes back more than a decade and the growth of the Chinese derivatives markets has been surpassed by the growth of Numerix. I am confident in our firm's continued ability to grow and to meet the strategic pricing, analytics and risk management needs of our clients in China and across the entire APAC region."
Numerix has been active in the Asia-Pacific (APAC) region since 1998 with offices in Hong Kong, Singapore, Tokyo, South Korea, Australia and now Beijing. Numerix continues to successfully expand its presence in the APAC region, experiencing double-digit client growth with the addition of 30 plus new institutions to its Asian client roster in 2010. In addition to opening the new Beijing office, other regional highlights included:
• October 2010 opening of Numerix sales office in Sydney, Australia.
• August 2010 opening of Numerix South Korean sales office and signing the first direct customer in South Korea - Hana Daetoo Securities.
• Implementation of Numerix Bloomberg Edition (NBE) and Numerix CrossAsset SDK running on the Microsoft Windows® HPC Server 2008 at a top South Korean investment banking and brokerage firm - Samsung Securities.
• Partnering with the largest consulting and IT consulting firm in Japan - Nomura Research Institute (NRI).
• Signing the first Numerix asset management client in Japan to use Numerix CrossAsset for pricing and risk management.
The Beijing office will be managed by Sindy Zhu, Director of Sales, who is responsible for the region. Zhu reports to Stephen Cheng, Numerix Vice President Sales for Greater China.