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FINCAD provides derivatives analytics to leading Middle Eastern asset management and investment banking institution
Vancouver, Kuwait – March 10 , 2009 – FINCAD®, a leading global provider of financial analytics and Kuwait Financial Centre 'Markaz', a leading asset management and investment banking institution in the Middle East, today announced Markaz’s implementation of FINCAD Analytics to provide derivatives pricing and analytics. This is part of Markaz’s larger mandate to build and maintain trading and technology infrastructure for the Kuwait Stock Exchange, in order to support options trading in the region.
Markaz now uses FINCAD Analytics Suite for Developers as its web-enabled derivative pricing engine for standardized exchange traded options for use in trading execution, risk management, control, and back office. FINCAD Analytics Suite for Excel is being used for valuing structured products and after-hours and over-the-counter trading.
“FINCAD Analytics is providing us with proven industry standard analytics that are fast, accurate, robust, and transparent,” said Hussein Zineddine, AVP, Equity Derivatives and Structured Products, Markaz. “With its breadth of coverage, FINCAD Analytics enable us to manage valuations of various trades of both conventional and Islamic financial structures.”
“We are pleased to provide Markaz with timely and reliable derivatives valuations,” said Bob Park, president and CEO, FINCAD. “To be associated with such an innovative market leader is further affirmation of FINCAD’s role in providing transparency to the value and risk of financial securities and derivatives in all regions of the world.”
About FINCADFounded in 1990, FINCAD provides software and services supporting the valuation and risk management of cross-asset class derivatives and fixed income securities to banks, corporate treasuries, asset management firms, auditors, and governments. FINCAD is the industry standard for financial analytics used by more than 35,000 financial professionals in over 80 countries. Over 70 FINCAD Alliance Partners embed FINCAD analytics within their solutions. FINCAD provides sales and client services from Dublin, Ireland and Vancouver, Canada. www.fincad.com.
About MarkazKuwait Financial Centre 'Markaz', with total assets under management of over KD1.2 billion (USD 4.5 billion) as of September 30, 2008, was established in 1974 has become one of the leading asset management and investment banking institutions in the Arabian Gulf Region. Markaz was listed on the Kuwait Stock Exchange (KSE) in 1997; and was awarded a BBB+ corporate rating by Capital Intelligence Ltd. www.markaz.com.
###Photo caption: Hussein Zineddine, AVP, Equity Derivatives and Structured Products, Markaz.