Charlotte Bergwall Nilsson, from SEB Merchant Banking's Trading and Capital Markets, says: "Summit has been one of our providers of front-office and risk-management solutions for derivatives since 1996. The excellent track record and relationship over recent years was a key factor in our selection process. We evaluated a number of software solutions, including Summit, and found that our requirements were easily met by Summit’s cross-asset capabilities."
The solution will include Summit’s real-time analytics framework providing immediate information updates on the position and exposure of any trade. With Summit’s real-time market risk analysis, SEB will be able to identify and capture market and arbitrage opportunities quickly for the most efficient and cheapest hedging strategies. Further analytics provided by Summit include real-time P&L decomposition and gap analysis.
Christophe Ensarguet, Summit’s sales manager for SEB, adds: "This is a significant deal for Summit. Not only is SEB expanding its use of Summit, it has also committed itself to moving to our real-time framework and thin-client, web-based architecture. The bank's renewed confidence in both our software infrastructure and business solutions is a new step in our long and mutually prosperous relationship."