Pricing Partners, the world leading derivatives independent valuation and mathematical models and pricing analytics provider, announced today the signing of Daewoo Securities, the largest stock brokerage and investment banking firm in South Korea, as the its first South Korean client.
The agreement was signed through its regional partner Belatos.
Under this groundbreaking agreement, Daewoo Securities will deploy Pricing Partners' entire financial pricing and analytics solutions, Price-it Library suite including Price-it Excel, Price-it API and Price-it Source Code for their exotic derivatives and structured products management. With Pricing Partners' advanced pricing tools and source code solutions, Daewoo Securities will be able to further expand and strengthen its depth of products' coverage, better manage risks and reply effectively to regulators' requirement.
Mr. InHo Kim, General Manager, Ph.D. at Financial Engineering Department of Daewoo Securities comments: "We have chosen Price-it after comprehensive and careful review of several similar products in the market. Price-it has the most sophisticated pricing analytics and the most advanced IT technologies among all products tested. Furthermore, the Price-it Source Code makes it possible to truly integrate Price-it into the Daewoo Securities' existing in-house pricing library. While other 3rd party valuation tools are mainly for purely front desk purposes only, like quoting and validating prices, Price-it seems to be the first product that could replace or, at least, supplement the in-house pricing library, in its strict sense."
Eric Benhamou, CEO of Pricing Partners added: "We are very pleased to sign with Daewoo Securities. This is a major reference for us. This is the result of a very close work with our distribution partner, Belatos and Daewoo Securities quantitative and front office teams to show the great added value of the solution. Thanks to Price-it Source Code, Daewoo Securities should be able to use, integrate, develop and roll over seamlessly our award winning solution to all the trading desks. We are therefore very thankful for Daewoo Securities' high commitment in our solution and looking forward to implementing the whole solution to their system."