FINCAD has revealed that CITIC Securities Company has implemented FINCAD’s F3 analytics solution to support growth of its equity derivatives business in Asia.
The valuation and risk solution services on the F3 solution provides pricing and risk management capabilities that includes key risk sensitivities for vanilla and complex trades and portfolios enabling critical trading and risk management decisions.
The solution uses FINCAD’s patented Universal Risk Technology and also distributes calculations and optimises resources to make intra-day risk valuation easier.
CITIC plans to use the F3 solution to support trading in both Hong Kong and mainland China.
Amar Budhiraja, FINCAD’s director of strategic business development, said: “CITIC is one of the leading investment banks in China and we are very pleased to support their growing derivative business in Asia with our F3 solution.”
“We appreciate the trust CITIC have placed in our technology and are committed to meeting China’s growing demand for world-class financial analytics solutions with FINCAD’s experts from our Beijing office as well as our offices in other global financial centres.”
Xu Xing Hai, director of equity derivatives business of CITIC, said: “We use F3 to analyse risk for our entire options portfolio, including vanilla and exotic products. FINCAD provides near instantaneous analytical sensitivities for even the most complex structures.”
“Between the training we received and how easily their solution fit into our current systems, we were operational in just a few months. This was instrumental in enabling us to get our new business off the ground as quickly as planned.”
