New Partnership with FINCAD Enables Derivative Path to Enhance Outsourced Derivative Management Services
Vancouver, BC - September 10, 2013
FINCAD and Derivative Path are pleased to announce that Derivative Path is using FINCAD's financial analytics platform to augment its outsourced service offerings. FINCAD is the leading provider of OTC derivatives pricing and risk management solutions and Derivative Path offers a cost-effective, outsourced solution to help financial and commercial institutions to execute OTC derivative products and remain compliant with increasingly stringent regulatory requirements.
"The FINCAD platform gives us a competitive advantage. We can give our customers strategic advice and trade valuations based on accurate analytics—and all this is available on a real-time basis," said Pradeep Bhatia, Derivative Path Co-Founder and Co-CEO. "At the moment, our focus is on OTC interest rate derivatives, but as we expand into other asset classes, FINCAD's cross-asset platform will be able to grow with us."
By partnering with FINCAD, Derivative Path ensures that key aspects of their clients' trading operations can be automated, and that the tasks necessary from a trade servicing standpoint will be accomplished by a rules and workflow-based engine that can mitigate manual and/or spreadsheet-based errors. "We are delighted to be partnering with Derivative Path, and supporting their innovative service offerings with our pricing and risk management platform," said Bill Stewart, VP Sales at FINCAD.
Technology-driven Services Backed by FINCAD Systems
What sets Derivative Path apart is not only the expertise of its team, but also the firm's emphasis on technology-driven services. "As industry veterans who have worked in the derivatives/capital markets business for some of the world's largest banks, we are all too aware of error-prone functional areas, such as manual data entry and spreadsheet-based errors. When we set out to create our service offering, we agreed on the crucial importance of the technological platform for our analytics. We chose FINCAD as our technological partner after a thorough selection process, which convinced us that FINCAD could provide the reliable, robust and flexible platform we need to help our clients manage their OTC derivative transactions," said John Fleming, Derivative Path CTO.
About Derivative Path Inc.
Derivative Path is a San Francisco Bay Area-based company that is approaching the over-the-counter derivative markets with a fresh, technology-driven services offering. The company provides a technology-led solution to assist financial institutions and commercial end-users in executing and managing their over-the-counter interest rate derivative transactions.
The company is led by industry veterans who have worked in the derivatives/capital markets business for some of the world's largest banks. The sales and execution team has led derivative sales efforts for several major banks. They have assisted numerous financial institutions in creating derivatives hedging business opportunities, setting up back-to-back swap programs and working with respective capital markets and commercial lending groups.
The company's technology team has years of experience in leading the technology, trading and product development effort at some of the world's largest financial institutions. Derivative Path will be ensuring that key aspects of its clients' trading operations will be automated, and that the tasks necessary from a trade servicing standpoint will be accomplished by a rules and workflow based engine that can mitigate manual and/or spreadsheet-based errors. www.derivativepath.com
Founded in 1990, FINCAD provides advanced modeling solutions built on award-winning, patent pending technology. With more than 4,000 clients in over 80 countries around the world, FINCAD is the leading provider of financial risk analytics technology, enabling global market participants to make informed hedging and investment decisions. FINCAD provides software and services supporting the valuation, reporting and risk management of derivatives and fixed income portfolios to banks, corporate treasuries, hedge funds, asset management firms, audit firms, and governments. FINCAD Analytics can be accessed through Excel, MATLAB®, as a Software-as-a-Service or embedded into an existing system through software development kits. Now, 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