Sydney, August 14, 2002 – First Chicago Tokio Marine Financial Products Co., Ltd (FCTM), a joint venture between Bank One Corp. and Tokio Marine and Fire Insurance Co., announced a decision to implement front-to-back modular software solution from Summit Systems.

FCTM intends to reap cost-efficiencies and performance advantages from Summit’s integrated, real-time STP platform. The new system will provide the infrastructure necessary to support leading-edge risk management services and products.

Trading capabilities will include support for listed futures, OTC options and derivatives, and credit instruments. Parametric Delta/Gamma/Vega VaR and optimized Monte Carlo VaR lead the list of advanced risk management analytics, while Summit’s STP workflow servers mediate the lifecycles of trades and portfolios maintained within the system.

According to Hans Janssens, Deputy Chief Executive Officer at FCTM, "When compared to software products from other vendors, Summit is unique because of the breadth of available functionality. To continue providing the kinds of risk management services and products customers demand, it was imperative that we invest in cost-efficient software with leading-edge, end-to-end capabilities across a wide range of asset classes."

"No other vendor gave us the ability to choose the precise combination of risk analytics and trade processing capabilities we wanted."
Janssens added: "The best software is not enough if you do not feel confident about the vendor’s support capabilities. However, in this case the well-proven implementation and maintenance support skills of Summit’s Japanese distributor, NS Solutions, convinced us to close the deal. Their reputation helped us to commit to Summit."

Commenting on the sale, Kengo Nakahashi Senior Manager at NS Solutions, said: "With proven expertise, a large customer base, and powerful risk analytics running on a cost-efficient STP platform customized to their exact needs, FCTM is well-positioned to serve the complete risk management needs of a sophisticated clientele. We are proud to serve their current needs and help them grow in the future."

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development