SuperDerivatives, a multi-asset derivatives platform for real-time option pricing, has announced that several leading Greek financial institutions including Eurobank EFG Group (Eurobank) and Marfin Popular Bank are deploying its interest-rate derivatives and structured products platform, SD-IR.
SD-IR provides real-time market prices, risk management and analytics for interest-rate derivatives, inflation derivatives and structured products in 40 global currencies. The online 24-hour system delivers real-time market prices for a wide range of interest-rate derivatives including a full suite of callable structured investments and structured swaps. A full database of market rates is included, supported by analysis and charting tools for control and flexibility.
Founded in 1990, Eurobank is an international banking organisation with total assets of over ?63.3 billion, employing over 21,000 people in ten countries around Europe and offering its products and services both through its network of 1,500 branches and points of sale and through alternative distribution channels. In Greece, Eurobank is a leader in consumer lending, mutual fund management, investment banking, equity brokerage and life insurance.
"We needed a real-time interest-rates derivatives platform that would consistently provide true market prices for even the most complex structures with sophisticated risk management functionality and accurate derivatives data," comments Yannis Seimenis, head of treasury corporate sales, Eurobank. "SuperDerivatives proved to be best match for Eurobank. Our sales desk productivity has been enhanced by the platform's easy-to-understand user interface and embedded structuring tools, while the marketing tools contribute to better customer service," he adds.
The adoption of SD-IR in Greece follows a similar pattern across Europe as demand for interest-rate derivatives increases among the region's investors and hedging professionals, according to SuperDerivatives. A recent Greek pension fund crisis, which illustrated the importance of timely and accurate measurement and analysis of interest-rate risk, accelerated local SuperDerivatives' expansion, says the firm.
"Both global and regional banks are using SuperDerivatives interest-rate derivatives platform to help their customers leverage investment opportunities, manage risk and hedge exposure," comments Robert Emerson, product manager, interest rates, SuperDerivatives. "With SD-IR, banks can price all the structures accurately, sometimes even more accurately than experienced traders in large investment houses," he continues.