Bear Stearns to use Derivatech for FX options

The FX risk management platform will be used to price, book and manage trades throughout their lifecycle, while managing portfolio risk management. It will also act as an aid to creating new hedging structures for clients, said the bank.

The system is currently being deployed and is expected to go live very shortly, said Derivatech.

The bank chose the system as part of an aggressive strategy to grow its exotic FX options and structured products business, said David Schoenthal, global head of FX at Bear Stearns in London. “We’ve seen a larger demand for exotics from European institutional and corporate customers,” he said.

A key reason for choosing DerivaTech’s system was its ability to integrate with the bank’s existing proprietary systems, including its credit and back office software, as well as its STP capabilities and its flexibility to grow with the business, Schoenthal added.

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