Credit Lyonnais extends DerivaTech to Asia

French bank Credit Lyonnais has extended the use of US-based software house DerivaTech's foreign exchange options pricing system to its branches in Korea, Taiwan and India.

DerivaTech's forex options pricing system, OTC, has been used by the French bank since 1997. The decision to extend the software to Korea, Taiwan and India is aimed at achieving greater consistency and competency across Credit Lyonnais' global trading operations, according to the bank.

"Part of the decision making process for Credit Lyonnais as it enhances its forex options distribution to Korea, Taiwan and India was to ensure delivery of sophisticated tools for salespeople to access volatilities contributed by Credit Lyonnais' Hong Kong trading centre and to provide accurate quotes to the local customer base," said Xin He, global head of forex options at Credit Lyonnais.

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