QuIC Financial Technologies

QuIC Financial Technologies

March 02, 2010 10:00 ET

QuIC Announces Implementation of Counterparty Credit Risk Solution at EBRD (European Bank for Reconstruction and Development)

Builds on previously implemented Market Risk Solution from QuIC

VANCOUVER, CANADA--(Marketwire - March 2, 2010) - QuIC Financial Technologies, a market leading provider of risk management, pricing and financial analytics, today announced the implementation of their Counterparty Credit Risk Solution at EBRD (European Bank for Reconstruction and Development).

"Our aim is to help EBRD achieve their strategic goals and through partnership, our team continues to raise the bar for speed, flexibility and performance. The most recent results not only reinforce that our solutions exceed industry standards but also offers our clients new sources of competitiveness," stated Justin Forrest, Executive Vice President of Global Sales for QuIC. "We are extremely pleased to continue to deliver at EBRD."

This implementation builds on the previously installed Market Risk Solution and extends EBRD's strategic risk systems architecture to include the calculation of unconditional credit exposure measures across Banking and Treasury products. This includes the integration of additional data sources to the QuIC Engine, the extension of additional configuration of the QuIC Engine to calculate unconditional credit exposure measures and incorporation of the QuIC Engine with SAP for the purpose of credit limit controlling.

Using QuIC, EBRD is able to use consistent methodology for measuring credit exposure across Banking and Treasury products in addition to providing a single Obligor exposure measurement system, delivering VaR, PFE and Credit VaR calculations across the Banking and Treasury portfolios of complex instruments.

As part of today's announcement, QuIC revealed additional details resulting from its implementation with EBRD. In line with the open, adaptable nature of its solution, QuIC's team has generated a number of new instruments along with updates to existing instruments that will have positive impact for its client base.

The next phase of the project at EBRD will involve using QuIC solutions to support EBRD's Economic Capital Policy, delivering a credit portfolio risk measurement framework throughout the organisation.

About EBRD

The European Bank for Reconstruction and Development is an international financial institution established in 1991 that supports projects in 29 countries from central Europe to central Asia. Investing primarily in private sector clients whose needs cannot be fully met by the market, the Bank promotes entrepreneurship and fosters transition towards open and democratic market economies. The EBRD is the largest single investor in the region and also mobilises significant foreign direct investment into its countries of operations. It is owned by 61 countries and two intergovernmental institutions.

About QuIC

At QuIC, we provide the world's leading financial organisations with bespoke solutions to power their risk management, pricing and financial analytics. With the advanced vectorised technology of the QuIC Engine(TM), our solutions perform highly complex, large-scale calculations at unparalleled speed with unmatched accuracy. From intraday portfolio analysis to rapid implementation of new models and financial instruments, our technology allows industry leaders to stay ahead of the market and ahead of the competition.

Contact Information

  • QuIC Financial Technologies Inc.
    Julie Zuzek
    Director of Marketing and Communications
    +44 (0)20 7562 4570
    +44 (0)20 7562 4571 (FAX)