(For the original press release, please see http://www.marketwired.com/press-release/-2088804.htm)
AFEX has Selected Derivitec’s Risk Portal Product for Production of Risk Reports on its Currency Trading Positions
LONDON, UNITED KINGDOM–(Marketwired – January 18, 2016) – AFEX, one of the world’s largest non-bank providers of global payment and risk management solutions, has selected Derivitec’s Risk Portal product for production of its risk reports.
Derivitec’s Risk Portal allows clients to access industrial standard risk reporting software directly through the web, with zero installation overhead, on a pay-as-you-go basis. Whilst originally designed to handle analytics on derivative products, the platform has been significantly extended to cover everything from shocks to regulatory reports across a wide range of assets, globally. End of day market data, and portfolio management are provided as standard, leaving the client with nothing more to do than upload portfolios and calculate to obtain their end of day risk numbers.
AFEX’s trade data is being fed into the Derivitec platform where it will be used to deliver reports on its currency trading positions, as well as to perform forward looking and sensitivity analyses. AFEX was impressed with the ease of use, and responsiveness of the platform, as well as the quick turnaround on new requests from the Derivitec team.
Mario Pisano, Head of Global Treasury at AFEX, comments: “Derivitec’s platform stood out for us for the quality and breadth of its risk reporting capabilities. With its easy to use functionality, we are able to produce reports more efficiently and it ultimately enables us to manage our working capital needs more effectively.”
George Kaye, CEO and founder of Derivitec, comments: “Working with AFEX has been a fantastic experience. We were able to extend the depth and reach of the platform rapidly, providing the additional functionality, portfolio management and coverage required by AFEX’s highly challenging risk reporting requirements. We are excited to continue building on our mutually beneficial relationship going forward.”
Derivitec Ltd is a privately owned, UK based independent software vendor specialising in high performance, cost effective analytics for the derivatives industry. Founded in Dec 2011, the company has been working intensively towards cloud based solutions for risk and portfolio management.
The Derivitec Risk Portal has been designed to allow users to start analysing risk on their derivatives portfolios in a matter of minutes. With industrial standard models and sanitised market data as standard, customers can focus on the business of business, while we concentrate on the business of risk.
Established in 1979, AFEX is a leading global payment and risk management solutions provider that specializes in cross-border transactions and provides market expertise and unrivalled customer service for businesses and private clients. With a client base of over 25,000 active commercial customers worldwide, AFEX prides itself on tailoring its payment and foreign exchange services to meet its clients’ needs. AFEX’s online payment platform — AFEXDirect provides clients with one consolidated overview of their currency exposure and makes it easy for companies to manage international invoices. AFEX maintains offices across the Americas, EMEA and Asia Pacific.
To find out more, please visit www.afex.com.