|[July 21, 2014]
CITIC Expands Derivatives Business with FINCAD's F3 Analytics Solution
VANCOUVER, British Columbia --(Business Wire)--
FINCAD, the leading provider of OTC derivatives pricing and risk
management solutions, today announced that CITIC Securities Company
Limited (CITIC) has implemented FINCAD's F3 analytics solution to
support the growth of its equity derivatives business in Asia.
CITIC is one of the leading investment banks in China by total assets,
revenue, net profits and assets under management. The valuation and risk
solution based on FINCAD's F3 technology provides robust pricing and
risk management capabilities including key risk sensitivities for
vanilla and complex trades or portfolios enabling critical trading and
risk management decisions. The first-order risk sensitivities are
produced, using FINCAD's patented Universal Risk Technology™, in a
fraction of the time it takes traditional curve bumping methods. The F3
analytics solution also distributes calculations and optimizes resources
to make intra-day risk and valuation easier. These efficiencies
considerably improved time to market for CITIC as they began trading
more complex products.
Mr. Xu Xing Hai, Director of Equity Derivatives Business of CITIC said,
"We use F3 to analyze risk for our entire options portfolio, including
vanilla and exotic products. FINCAD provides near instantaneous
analytical sensitivities for even the most complex structures."
"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, said Amar Budhiraja, FINCAD's Director of Strategic Business
Development. "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 centers."
CITIC has plans to use FINCAD's F3 analytics solution to support trading
in both Hong Kong and mainland China. This will require implementation
of both Chinese market data and industry-standard global market data.
"The FINCAD Professional Services team was very helpful in seamlessly
implementing the F3 analytics solution," added Mr. Xu. "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
About CITIC Securities Company Limited
CITIC Securities is a leading full service investment bank in China,
whose A and H shares are listed on the Shanghai Stock Exchange and The
Stock Exchange of Hong Kong Limited respectively. CITIC maintains top
rankings in China's capital markets across its principal business areas
of securities brokerage, investment banking and asset management.
CITIC is one of the constituents stocks of both SSE 50 and MSCI China
Index, as well as one of the top five constituents stocks in FTSE/Xinhua
A50 China Index. It is also a constituent stock of the Hang Seng China
H-Financials Index, Hang Seng China AH Index Series, Hang Seng Global
Composite Index, Hang Seng Composite Index, Hang Seng Composite Industry
Index - Finance, and the Hang Seng Composite MidCap index.
For more information about CITIC, please visit its website at www.cs.ecitic.com.
FINCAD is a world-leading provider of valuation and risk management
solutions, serving over 1,000 organizations worldwide. In addition, 80
of the leading software providers embed FINCAD technology into their
solutions. The company is committed to providing comprehensive, clear,
accurate and timely information to assist financial decision-makers in a
wide range of institutions. FINCAD has offices in New York, London,
Beijing, Dublin, and Vancouver.
To learn more about FINCAD, please visit www.fincad.com.
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