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Credence launches “Quadryx” - derivatives transaction processing software

Credence Analytics, the India-based specialist treasury and risk solutions provider, announced the launch of “Credence Quadryx – the comprehensive derivatives solution.” Quadryx manages the processes across the complete life cycle of all interest rate derivatives, cross currency swaps and FX Options.

Activity in OTC derivatives operations has increased exponentially in India over the last few years. With more and more banks entering these markets for hedging and trading operations there was a clear need felt for specialised derivatives software. Quadryx currently handles variants like foreign currency IRS, OIS, Quantos, basis swaps, range accrual/ barrier swaps, and roller-coaster swaps. Credence Quadryx manages the processes including contract capture, processing, hedging, valuation, risk management, P&L generation, interest management, MIS, regulatory reporting and accounting of the above products.

Quadryx has a modular architecture to incorporate new products and structures into the existing framework easily. The real benefit of Credence Quadryx is that it integrates seamlessly with the existing treasury solution or it can be run independently with the accounting entries feeding into the existing treasury or core banking solution. It can also be interfaced with the leading terminals like Reuters, Bloomberg or Money Line Telerate for benchmark updation for valuation purposes.

Quadryx can also be seamlessly integrated with Credence iDEAL, the integrated treasury solution, thus resulting in a single integrated offering for forex, fixed income securities, money market, equity, mutual funds and derivatives. Quadryx is currently implemented at 8 sites and has also built up a strong pipeline.

Credence Analytics is India's leading specialised financial software solutions provider combining strong domain and technology skills to offer a wide range of high quality innovative software solutions for the banking & financial services industry. Credence Analytics has been ranked as the market leader for treasury solutions and risk management solutions in India for 2002 and 2003 by IBS, London. Credence Analytics today has more than 40 installations of it’s treasury and risk management solutions across the banking & financial services segment.