Glitnir Bank is deploying SuperDerivatives’ pricing and analytics platform for foreign exchange currency and equity options.
Glitnir Bank is one of Iceland’s top commercial banks and a force in the Scandinavian markets. It operates in 11 countries, defining Iceland and Norway as its home markets.
“Option dealing is one of our fastest growing segments in Capital Markets and we were looking for a solution that would enable us to provide clients with excellent service, market-accurate real-time option prices and sound strategic advice. We chose SuperDerivatives because it gives us the options coverage, functionality and productivity we need to compete with both domestic banks and the growing presence of foreign banks,” says Jhannes Baldursson, managing director, Glitnir Capital Markets. “By using SuperDerivatives’ real-time and accurate pricing for any type of option, our traders can enhance their profits with better market intelligence. In parallel, our sales force is using the built-in productivity tools and indicative pricing to provide better service and win more business.”
The SuperDerivatives real-time pricing platform includes a variety of productivity-enhancing front-office utilities. Sales personnel are able to provide clients with value-added services such as mark-to-market and risk analysis of their portfolios, while unified sales tools across the whole bank strengthen bank branding. Collaborative on-line trading and real-time messaging tools further increase productivity between the bank clients and sales, and between sales and trading desks.
“The majority of the top banks in the region as well as in other emerging and developed markets around the world are using SuperDerivatives to enhance their productivity in the fastest, most cost-effective manner. We are proud to have Glitnir Bank, an important player in the Scandinavian and Nordic financial centers, join the SuperDerivatives family,” says Yuval Levy, chief technology officer, SuperDerivatives. “The competition that regional banks are facing from the global banks is compelling them to seek powerful yet economical, easy-to-learn solutions that enable them to grow and profit quickly. SuperDerivatives is the ideal platform for them, covering all asset classes throughout the entire derivatives lifecycle, from real-time pricing and analytics to risk management systems, portfolio revaluation, options market data portal and online trading.”
Because SuperDerivatives is a web-based-platform, it can be used immediately without installation. New functions and features are added on a weekly basis so the system always provides the latest instruments and the most up to date market data.
SuperDerivatives’ products and services are used by numerous companies from both the buy and sell side. Its real-time pricing platforms are used by almost all the banks around the world, as well as numerous corporations, asset managers, hedge funds, auditors and central banks. SuperDerivatives’ Revaluation service (SD-Revaluation) is used by numerous banks, hedge funds, asset managers, fund administrators and auditors.