Pricing Partners signs ICBC Asia
Pricing Partners, the world leader in OTC derivatives pricing analytics, mathematical models and independent valuations, announced today that Industrial and Commercial Bank of China (Asia) Limited ("ICBC (Asia)"), the flagship of Hong Kong banking business of Industrial and Commercial Bank of China Limited, the world tier 1 bank, selected Pricing Partners' derivatives analytics, Price-it Excel to enhance its flow derivatives desks activities.
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The agreement was signed through its regional distribution partner Belatos.
ICBC (Asia) requires an extremely accurate and versatile derivatives pricing tool for its traders. After several tests on various instruments, Pricing Partners' proprietary financial library, Price-it Excel, has proven its unrivalled accuracy on the calibration methods and models, user-friendly interface, highly transparent software design and efficient support services.
"Besides being a fast and accurate pricer, the intuitive design of Price-it Excel enables us to develop pricing templates of almost any innovative cross-asset structured products in a flash of a minute," states Nicky Mak, Flow Derivatives Desk Head of Global Markets & Trading in ICBC (Asia). "Without relying on any programming script, it makes the templates we build easier to be understood by the supervisory departments and regulators and hence smoothening the product approval process."
Eric Benhamou, CEO of Pricing Partners added: "We are very happy to have ICBC (Asia), the world leading bank, as one of our flagship references. This signature is a strong sign of the high quality of our software and services, as well as a milestone in Asia for Pricing Partners. We are very thankful and proud of the trust of ICBC (Asia). We are looking forward to working very closely with ICBC (Asia)."