Pakistan's United Bank Limited (UBL) has licensed the Principia System to manage its fixed income and derivatives business.
The bank, one of the first in the country to adopt derivatives in its trading and risk management practices, will use the Principia package to manage products through their entire life cycle, including deal capture, pricing, risk management, reporting and accounting, handling both local and foreign currencies.
In addition, the bank will value its structured loan portfolio using the system's modeling and pricing capabilities.
The installation is planned for the bank's treasury division at its head office in Karachi.
Risha Mohyeddin, global head of treasury and capital markets at UBL, comments: "The Principia System can be used off the shelf with little modification for our general applications, so we can be assured of a rapid deployment of our business."