Expanding Derivatives Markets Drive Rapid Growth at FINCAD
VANCOUVER, BC, CANADA, March 20, 2006 – Growing volume and use of derivatives is driving demand for FINCAD software and online services that is causing the company to expand its employee count by more than 30% in 2006. This follows 50% growth in staff during 2005, the company announced today.
Three major business drivers are pushing demand for FINCAD’s offerings, according to a company spokeswoman. “New regulations that require greater transparency in derivatives valuation, continued growth of hedge fund firms and the increased complexity of derivatives themselves are creating new demands for our products and services,” explained Tamara Jacobs, the company’s marketing manager. “That increased complexity is making it more costly and time consuming for banks, hedge funds and others to build their own sophisticated financial analytics so they are turning to FINCAD for our industry standard solutions,” she added.
FINCAD has responded to this demand by expanding its pool of financial engineering expertise, software development and support staff, as well as its sales force, to better service the global industry. Further additions are planned and the company is seeking applicants for a number of positions currently, as well as more scheduled for later in 2006.
Nancy Petersen, CFO advised that “FINCAD is positioning itself to meet the increased demand for technology to value derivatives. By expanding the expertise in our teams, we are poised for even more profitable financial growth in the future.”
To attract top talent FINCAD continually strives to build a vibrant corporate culture that rewards talented staff for excellence, efficiency, hard work and creativity in delivering results. Petersen added, “FINCAD promotes continuous learning in a stimulating environment that encourages teamwork, honesty and integrity. FINCAD’s core values put customers first by delivering results they can depend on.”
For additional media information, please contact:
Media Relations
FINCAD
Central City, Suite 1750
13450, 102nd Avenue
Surrey, BC V3T 5X3
Phone: (604) 957-1222
Email: media@fincad.com
About FINCAD
FINCAD provides software and services that support the valuation and risk management of financial securities and derivatives that is essential for banks, corporate treasuries and asset management firms. FINCAD’s industry standard financial analytics are a key component in FINCAD solutions that are used by over 25,000 professionals in 72 countries.
FINCAD XL is a Microsoft® Excel add-in package containing over 1,400 financial functions and 120 workbook solutions used for valuing and measuring the risk of financial securities and derivatives. FINCAD Developer is a software development kit allowing financial system vendors and developers to add FINCAD Analytics to their trading, order processing and order management systems.