23 January 2018
visit http://response.ncr.com

Australia's Coca Cola Amatil signs with SuperDerivatives

09 January 2004  |  381 views  |  0

SuperDerivatives, the benchmark FX derivative pricing platform, has continued its expansion into the buyside sector by licensing its award winning options’ system to Australia's Coca-Cola Amatil.

"SuperDerivatives helps us hedge the risk that stems from our extensive production and bottling activities across the Asia/Oceania region more efficiently," says Steve Barraclough, Treasury Executive of Coca-Cola Amatil. "Because we have SuperDerivatives we can now access true market prices. This is extremely important as it means we are able to mark-to-market our hedging portfolio with independent rates. Australian companies will soon have to comply with the guidelines in IAS 39 and SuperDerivatives helps us do this," he adds.

Barraclough says the decision to use SuperDerivatives was also based on a number of other factors. "I heard about SuperDerivatives from a friend of mine who works as an interdealer broker in London. He said that it has rapidly become the system everyone in the wholesale market is talking about. I took a look it and I immediately understood why. SuperDerivatives is extremely accurate and it gives me independence. It is much easier to use than other systems and the way it's available on the Internet makes it very appealing."

David Gershon, chief executive of SuperDerivatives, adds: "We are naturally pleased that so many corporations are starting to use SuperDerivatives. We have already achieved a fantastic take-up with the banking sector. Now, our success with buyside corporations is outpacing even our most optimistic expectations."

Gershon continues: "Feedback from our bank clients suggests that our buy-side corporate customers have increased the volume of FX options since they started to use SuperDerivatives and we are very proud of that."

He concludes: "New accounting standards mean it is no longer suitable to just sign up for so-called benchmark parameters, such as implied volatility levels. If these are fed into a system still reliant on Black-Scholes type pricing, which most platforms are, there is a very high chance that the final price will still be wrong. This is no longer acceptable for most option users and their risk managers and auditors. The fact that our clients can correctly mark-to-market their FX option portfolios using SuperDerivatives has improved their transparency with their auditors and helps them comply with tougher accounting rules regarding derivatives revaluation."

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.niceactimize.comvisit www.ebaday.comvisit www.capgemini.com

Top topics

Most viewed Most shared
Banks shift priorities toward growth, digitisation and innovation - surveyBanks shift priorities toward growth, digi...
9315 views comments | 37 tweets | 48 linkedin
Standard Chartered establishes fintech innovation and investment unitStandard Chartered establishes fintech inn...
9164 views comments | 14 tweets | 14 linkedin
BofA leads on blockchain patentsBofA leads on blockchain patents
8948 views comments | 12 tweets | 12 linkedin
Sbanken opens developer portal and invites customers to build their own digital bankSbanken opens developer portal and invites...
8268 views comments | 17 tweets | 11 linkedin
Metro Bank joins digital revolution with instant online account openingMetro Bank joins digital revolution with i...
6909 views comments | 13 tweets | 25 linkedin

Featured job

Competitive base + commission + benefits
London, UK

Find your next job