Iceland's Glitnir Adopts SuperDerivatives' Multi Asset Banking Platform for Trading and Sales Desks

24 September 2007

SuperDerivatives(R), the benchmark for options and the leading multi-asset derivatives solution provider has announced that Glitnir Bank is deploying its pricing and analytics platform for foreign exchange currency and equity options.

Glitnir Bank is one of Iceland's top three commercial banks and a major force in Scandinavia's financial markets. It operates in eleven countries, defining Iceland and Norway as its home markets, while mainitaining operations in London, Luxembourg Copenhagen, Stockholm, Helsinki, Moscow, Halifax, Shanghai and New York

"Option dealing is one of our fastest growing segments in Capital Markets and we were looking for a solution that would enable us to provide clients with excellent service, market-accurate real-time option prices and sound strategic advice. We chose SuperDerivatives because it gives us the options coverage, functionality and productivity we need to compete with both domestic banks and the growing presence of foreign banks," said Johannes Baldursson, Managing Director, Glitnir Capital Markets. "By using SuperDerivatives' real-time and accurate pricing for any type of option, our traders can enhance their profits with better market intelligence. In parallel, our sales force is using the built-in productivity tools and indicative pricing to provide better service and win more business."

The SuperDerivatives real-time pricing platform includes a variety of productivity-enhancing front-office utilities. Sales personnel are able to provide clients with value-added services such as mark-to-market and risk analysis of their portfolios, while unified sales tools across the whole bank strengthen bank branding. Collaborative on-line trading and real-time messaging tools further increase productivity between the bank clients and sales, and between sales and trading desks.

"We are proud to have such an important player in the Scandinavian and Nordic financial centers as Glitnir Bank join the SuperDerivatives family," said Dr. Yuval Levy, Chief Technology Officer, SuperDerivatives.

"The competition that regional banks are facing from the global banks is compelling them to seek powerful yet economical, easy-to-learn solutions that enable them to grow and profit quickly. SuperDerivatives is the ideal platform for them, covering all asset classes throughout the entire derivatives lifecycle, from real-time pricing and analytics to risk management systems, portfolio revaluation, options market data portal and online trading."

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