Luxoft selects SuperDerivatives to manage foreign currency risk

London - 15 November 2010

SuperDerivatives, the derivatives benchmark, announced today that it has been chosen for internal deployment by Luxoft, a leading global provider of advanced application and product development services, to manage the company’s exposure to cross-border currency risk.

SD will provide Luxoft with SD-FX, the market’s benchmark solution for currency derivatives. The solution will provide real-time, independent pricing, analytics, post-trade deal management tools, risk and performance reports for the widest range of FX derivatives.

“As a global software company we operate across borders and currencies, and can therefore be affected by a number of factors in the global financial markets,” said Roman Yakushkin, CFO Luxoft. “As the FX market continues to grow more volatile, we searched for a service that would enable us to improve our ability to use derivatives to accurately hedge exposure to fluctuations in foreign currencies.”

Luxoft, headquartered in Russia with delivery centers in North America, Central and Eastern Europe, and Asia, provides IT and product engineering services and custom solutions for independent service vendors (ISVs) and IT-enabled enterprises. The company builds lasting partnerships with clients, such as Boeing, IBM, Harman, Avaya, Areva, Sabre and other global leaders, based on a culture of engineering excellence, innovation, and deep domain expertise.

“We chose SD for its exceptionally wide coverage, competitive pricing and range of pre- and post-trade tools. We now have a single service that allows us to plan a strategy and run an independent price check before executing a deal, to execute mark-to-market reports and to improve auditing and compliance once a trade has been completed. We have already seen a significant improvement in our hedging capabilities,” added Yakushkin.

David Shulman, Senior Sales Director at SD commented: “Our rich combination of analytics, wide asset coverage, proven technology and unrivalled risk management tools, all delivered over the web as SaaS, will empower Luxoft to manage market risk and hedge exposures with the highest level of accuracy. We are delighted to welcome Luxoft to the growing list of SD users in the region.”

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