Numerix Opens Office in India; Continuing Asia-Pacific Expansion

New York, NY, USA - 23 March 2011

New Mumbai office provides growing clientele with local sales and quantitative support in the region.

Numerix, the leading provider of cross-asset analytics for derivatives valuations and risk management has opened a new office in Mumbai, India to provide local sales and quantitative support in the Indian region. The new Mumbai office symbolizes the growing demand for independent pricing and valuation solutions in support of the growing derivatives markets in India and also serves as a representation of Numerix’s continuing strategic commitment to the Asian region.

“The introduction of derivatives instruments as a form of risk management in India continues to gain momentum due to the Reserve Bank of India's efforts in allowing forward contracts and cross currency options,” states Erdem Ozgul, Senior Vice President, Asia Pacific Sales for Numerix. “Our new presence in India coincides with the continued expansion of the Indian economy and the further integration of India's financial markets with the international financial markets. We also look forward to the Wealth-management & Private-banking arms of Indian financial institutions leveraging from the proven expertise of Numerix in the arena of structured investment-products.”

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