Application Networks says SG Corporate & Investment Banking (SG CIB) has bought the JRisk trading and risk management tool for its FX Options business.
The JRisk system is being used by traders, risk managers and middle office staff. It provides official economic and accounting P&L, risk analysis and scenario simulations, real time risk and position management and VaR. The solution also delivers valuation reporting for customers of the bank. All vanilla and exotic forex options are supported.
“JRisk was chosen over and above other solutions because of the quality of the technology and architecture and the expertise of Application Networks’ staff. With JRisk we were able to leverage and re-use our existing components and services and this allowed for a rapid integration. With Application Networks we have gone live on time and on budget,” says Jean Habib Global Head of IT Foreign Exchange & Treasury in SG CIB.
“JRisk has rapidly given us the value added we expected,” adds Richard Giltner, Global Head of FX Options at SG CIB. “The new solution provides us with mission critical analysis for our trading and risk management activities enabling us to run our business more effectively.”
“The success of Application Networks has been built on the successful delivery of projects within short time frames,” says Evrard Van Hertsen, President and Chief Executive of Application Networks. “Our customers know that with JRisk they not only get strategic business solutions but solutions that deliver and go into production on time and on budget.”