Bank Zachodni extends Microgen Dart+ Pricing implementation to money markets desk

Source: Microgen

Microgen (LSE:MCGN), the IT services and solutions provider, today announces that Bank Zachodni WBK, one of Poland's largest banks and a subsidiary of AIB Group, has extended usage of DART+ Pricing in its wholesale banking area.

The system was already in use on the Long Term desk where its success has led to its adoption by the Money Markets desk.

Marcin Groniewski of Bank Zachodni WBK SA Treasury said, "By Using DART+ Pricing we can reduce our response rate, which means we can provide an even better service to our clients which is something we are always striving for. DART+ Pricing makes it possible for us to improve on our real-time pricing and analysis of Swaps, Loans, Deposits and FRA's. It provides us with advanced curve building capabilities and sensitivity analysis."

DART+ Pricing is an element of the DART product suite, a range of products and services relating to pricing and risk management, systems development and training for the global derivatives marketplace. It offers an extensive range of instrument coverage, accuracy of information and speed of response necessary to support both the Exchange Traded and OTC global derivatives business.

"We are obviously delighted that Bank Zachodni is furthering its use of DART," says Henry Umney, General Manager, Banking and Derivatives Division, Microgen. "We have worked extensively with AIB in both the UK and Ireland and it is good news for us that the system has proven to be a success in Poland."

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