Bear Stearns to use Derivatech for FX options
Bear Stearns has taken Derivatech’s FX risk management platform to support its expanding FX options trading and distribution operations in New York and London.
The system is currently being deployed and is expected to go live very shortly, said Derivatech.
The bank chose the system as part of an aggressive strategy to grow its exotic FX options and structured products business, said David Schoenthal, global head of FX at Bear Stearns in London. “We’ve seen a larger demand for exotics from European institutional and corporate customers,” he said.
A key reason for choosing DerivaTech’s system was its ability to integrate with the bank’s existing proprietary systems, including its credit and back office software, as well as its STP capabilities and its flexibility to grow with the business, Schoenthal added.
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