Banca Intesa consolidates credit derivatives systems

Banca Intesa has selected London-based Tamesis’ trading and risk management system for its credit derivatives operations.

The Italian bank was using several different trading and risk management systems, “making it difficult to get a consolidated view of their positions", said a Tamesis spokesman. However, the bank’s credit derivatives operations in Milan and New York will now all run on the Tamesis solution.

According to Tamesis, Banca Intesa also needed a comprehensive scenario analysis tool and an ability to add new structures to the trading system quickly, which the service provides.

The system, Tamesis Risk Informer, which will be installed within the next three months, will support trading operations for flow and structured products. Users can view portfolio positions and associated hedges, and add new trade capture tickets and proprietary pricing algorithms.

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