Expansion of FX Options Business Advances Leading French Bank.
New York, NY—October 23, 2002 - DerivaTech, the specialist provider of advanced currency derivatives pricing, analytics and risk management applications, announced today that Credit Lyonnais has extended the use of its FX options pricing solution to the bank's branches in Korea, Taiwan and India.
DerivaTech's FX options pricing solution, OTC is a key part of the strategy to promote distribution capabilities to Credit Lyonnais' regional client base. Adding the Far East local branches to the existing Credit Lyonnais global network already using DerivaTech since 1997, advances consistency and competency across the bank's global currency derivatives trading. "DerivaTech provides access to a wide range of option markets and modeling techniques, sophisticated structuring capability, and user-friendly graphical analysis of trading strategies," commented Xin He, Global Head of FX Options at Credit Lyonnais.
"Part of the decision making process for Credit Lyonnais as it enhances its FX options distribution to Korea, Taiwan and India was to ensure delivery of sophisticated tools for salespeople to access volatilities contributed by Credit Lyonnais' Hong Kong trading center and to provide accurate quotes to the local customer base," said Credit Lyonnais' Xin He. "DerivaTech's user friendly nature facilitates the creation and presentation of FX option strategies and structured transactions," continued He.
"We are very pleased that Credit Lyonnais, an early adopter of our FX pricing solution has chosen DerivaTech as a critical component of their global business expansion," said David Aaron, Senior Vice President, Sales and Marketing for DerivaTech. "Our component based client-server architecture is optimized to serve the enterprise trading of major players."
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