20 February 2018
visit www.nextgenbanking.co.uk/

Citic risk management division leans on SuperDerivatives

07 November 2012  |  1596 views  |  0 Source: SuperDerivatives

SuperDerivatives, the global leader for cloud-based real time market data, derivatives technology and valuation services for the financial and commodity markets, today announced that it has been selected by CITIC Bank International's (CBI) risk management division.

The Hong Kong-headquartered bank already used and trusted SuperDerivatives' prices in its front office and chose SDX, SuperDerivatives' front office system, and eValueX, its revaluation services, for the bank's risk management division based on its relationship and positive experience of SuperDerivatives' suite of products.

"Asia is a fiercely competitive region and we need to be able to trust our prices and risk profiles to be able to develop products that are attractive to our clientele," said Dominic Tsui, head of market risk at CBI.

"SuperDerivatives' new product suite enables us to generate market prices based on independently verified and trusted market data - this, combined with daily mark-to-market valuations based on independent data, means we are bringing important efficiencies to data. CBI already has a comprehensive structured portfolio but this opens up exciting new possibilities."

Common practice within many banks has been to use counterparty valuations when marking to market. Best practice, however, is increasingly towards independent pricing as this answers calls for greater transparency and standardisation - a cornerstone of regulator focus. CBI's adoption of this best practice puts it at the forefront in Asia and ensures that its prices reflect the true market value as well as providing confidence in its risk measurement numbers.

"Bringing greater efficiencies into risk management is representative of a growing trend amongst regional banks in Hong Kong and China," said Simon Wong, regional sales manager at SuperDerivatives. "Financial institutions in this region are looking to expand their structured product offerings, particularly for the CNH currency. The CNH market is still illiquid and supply is limited so participants need to be smart, and managing risk is an important part of this."

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.nextgenbanking.co.ukvisit www.swift.com/your-needs/instant-paymentsVisit www.vasco.com

Top topics

Most viewed Most shared
Saudi central bank provides sandbox for banks to try out Ripple techSaudi central bank provides sandbox for ba...
11862 views comments | 16 tweets | 12 linkedin
ABN Amro moves escrow accounts to the blockchainABN Amro moves escrow accounts to the bloc...
9571 views comments | 15 tweets | 13 linkedin
ECB launches staunch defence of cashECB launches staunch defence of cash
9342 views 10 comments | 22 tweets | 26 linkedin
Coinbase and Visa at loggerheads over erroneous charges on customer crypto accountsCoinbase and Visa at loggerheads over erro...
8135 views comments | 13 tweets | 12 linkedin
FCA explores creation of global sandboxFCA explores creation of global sandbox
7391 views comments | 19 tweets | 18 linkedin

Featured job

Competitive base + commission + benefits
London, UK

Find your next job