Reech Capital is to expand its business in Italy through a distribution agreement with Uniteam, the Italian business solutions provider that supplies corporate IT and telecommunications services to financial institutions in Italy. This agreement will enable Reech Capital to market its specialist Application Service Provider (ASP) risk management solution, eVaR+(tm), directly to Italy’s 844 banks through Uniteam.
Christophe Reech, chairman and chief executive of Reech Capital, said: “This alliance combines our risk management expertise with Uniteam’s knowledge of and contacts in the Italian market. With increasing regulatory pressure in Italy requiring banks to employ state-of-the-art risk management solutions, we are extremely well placed to capitalise upon this demand. Moreover, our ASP risk management solutions delivered via the Internet offer added appeal in a sector facing considerable consolidation as they avoid any problems connected with systems integration.”
Gianpiero Vigo, chief executive officer of Uniteam, said: “This partnership with Reech Capital is part of our strategy to provide Italy’s banking and finance market with a comprehensive suite of risk management solutions. By integrating eVaR+(tm) with the rest of our offering we can provide banks and financial institutions with a complete market risk management solution that complements our proven Total Credit Quality credit risk management application. We are particularly satisfied with this agreement as it will allow us to consolidate our competitive advantage in the Italian finance market.”
eVaR+(tm) is Reech’s generic risk engine. It has been designed to compute value at risk, credit risk, settlement risk and liquidity risk and can handle all trades types and structures from cash securities to OTC exotic derivatives which are priced using Reech’s Adep pricing engine. It offers analytical, historical and Monte Carlo simulations for maximum flexibility.
Drawing on a warehouse of pricing data, eVaR+(tm) incorporates the Reech Capital experience of modelling market parameters for equities, fixed income, exchange rates, defaults, volatilities and correlations. And it is continually updated to ensure it is equipped with the most advanced data analysis methodologies.