Major
Institutional Investor Selects QuIC’s Risk Management Solution To Enhance
Counterparty Exposure Management; Signals Adoption of QuIC Technology Into New
Markets
VANCOUVER, CANADA –May 8,
2009 –QuIC Financial Technologies Inc., a leading global solutions
provider of risk management, pricing and financial analytics, today announced a
major institutional investor has selected the QuIC Credit Risk Solution™ to
optimise its risk infrastructure. This highlights continued strong adoption of
QuIC into new markets, and signifies entry into the asset management
sector.
The QuIC Credit Risk Solution will enhance the institutional
investor’s counterparty exposure management system and enable their risk
managers to effectively manage the risk associated with their trade
assets.
“We’re extremely proud our solution has been chosen by a major
institutional investor,” stated Nigel Cairns, President and CEO of QuIC. “This
new client relationship reinforces our strategy of growing new market regions,
and validates that our solution goes beyond our traditional client
portfolio.”
The global banking industry is changing. QuIC has responded by extending our
solutions to meet market and credit risk requirements for new niches and
markets,” added Justin Forrest, Executive Vice President of Global Sales for
QuIC. “This new client will be using our solution for limit utilisation, which
not only is a new use for QuIC technology, but it also demonstrates the
flexibility and scalability of QuIC technology to manage trade assets, going
above and beyond the traditional uses of our technology in the front and middle
office.”
As the banking industry faces increasingly stringent regulatory
guidelines and accountability for counterparty exposure risk, this major
institutional investor selected QuIC’s solution to take a proactive approach to
managing counterparty exposure. After a rigorous selection process, the QuIC
Credit Risk Solution proved to be the most effective in managing their
counterparty exposure, enabling their risk managers to quickly, accurately and
reliably ensure their collateral holdings continuously offset their
exposure.
To learn more about the QuIC Credit Risk solution, please visit
www.quic.com.
About QuIC Financial Technologies, Inc.
QuIC is a global solutions provider for risk management, pricing and financial
analytics. The QuIC Product Suite features an exceptionally fast vector-based
calculation and simulation platform for pricing, risk management and financial
analytics. Built with fully open technology, the QuIC Product Suite integrates
easily with in-house and partner systems and operates in diverse environments,
from a single laptop to large distributed grids. QuIC technology is delivered on
a shared calculation fabric available to multiple recipients throughout the
enterprise, allowing risk management professionals to collaborate in developing
new analytics strategies and technology solutions.
Press Contact
Julie Zuzek
Director of Marketing and
Communications
QuIC Financial Technologies Inc.
Tel: +44 (0)20 7562 4570
Fax: +44 (0)20 7562 4571
julie.zuzek@quic.com
Trademarks
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The QuIC Logo, and QSF, QuIC Analytics, QuIC Analytics - Xl, QuIC Analyzer, QuIC
Credit Risk Solution, QuIC CVA Solution, QuIC Dispatch, QuIC Engine, QuIC
Functions, QuIC Integration, QuIC IRC Solution, QuIC Links, QuIC Market Risk
Solution, QuIC Mechanics, QuIC Mechanics CDL, QuIC Network Engine, QuIC
Platform, QuIC Product Suite, QuIC Publisher, QuIC Run, QuIC Script, QuIC
Services, QuIC Simulation Framework, QuIC Structured Product Solution, QuIC
Unified Market and Credit Risk Solution, QuIC Unified Solution, QuIC View, and
QuIC Workbench are trademarks of QuIC Financial Technologies Inc. Or a Licensor
in Canada, the United States and/or other countries.