Pricing Partners, the world leader in OTC derivatives pricing analytics, mathematical models and independent valuations, announced today that CITIC Bank International, a Hong Kong based full-service commercial bank, has chosen Price-it Excel, the advanced derivatives pricing excel solution for its risk management team. The agreement was signed through its regional partner Belatos.  

CITIC Bank International will use Pricing Partners’ advanced derivatives pricing library, Price-it Excel to evaluate a wide range of FX structured products. After a thorough test on the solution and the services, CITIC Bank International was convinced by the Price-it Excel solution for its accurate valuation, ease-of- use and flexible software design, along with the high level of support services from Pricing Partners. 

Dominic Tsui, Head of Market Risk at CITIC Bank International comments “We have chosen Price-it Excel to supplement and enhance the support for our derivative business because of its strong capability for the modeling and pricing of FX structured products with ease and flexibility both on individual transactions and portfolio basis.”

Eric Benhamou, CEO at Pricing Partners states “We are pleased to welcome CITIC Bank International aboard, as a new important client of Pricing Partners in Asia. With our plug and play components for derivatives valuation, its simplicity and its accuracy, our client should be able to double-check their products’ prices and better monitor and control risks. We trust that Price-it Excel should match our client’s needs and fulfill their expectation.”  

About CITIC Bank International Limited

CITIC Bank International Limited (“the Bank” or “CBI”) is a wholly-owned subsidiary of CITIC International Financial Holdings Limited (“CIFH”), which in turn is 70.32%-owned by China CITIC Bank Corporation Limited and 29.68%-owned by Banco Bilbao Vizcaya Argentaria (“BBVA”) of Spain.  By providing value-creating financial solutions to define and exceed both the wealth management and international business objectives of our Greater China and overseas customers, the Bank aspires to be the “China Bank of Choice”, with the best international standards and capabilities.  The Bank’s footprint in Greater China includes 31 branches in Hong Kong, as well as branches and presence in Beijing, Shanghai, Shenzhen and Macau.  The Bank also has overseas branches in New York, Los Angeles and Singapore.  The Bank is rated “Baa2” by Moody’s Investors Service and “BBB” by Fitch Ratings.   

More information about the Bank can be found on its website at www.citicbankintl.com   

About Belatos

Belatos is a boutique “Fintech” advisory and distribution company, created in December 2009 to assist western Independent Software Vendors (ISV) launch their business in Asia.

Belatos is headquartered in Hong Kong, in the Central business district, with staff in both Hong Kong and Singapore and contractors in Malaysia, South Korea and China.

We are particularly focused on Derivatives and Structured Products solutions including: 

- Latest generation pricing and analytical tools accessible through Excel or a simple API or even in the form of the original source code. The keyword-based payoff description language combined with built-in independence between the available diffusion processes, numerical methods and calibration methods provide unmatched flexibility, transparency and ease of use.

- Automated generation of all Structured Products related documentation including: Term sheets, back test and simulation reports, animated Sales and Training materials, post issue performance reports, event alerts etc...This is also available as a personalized professional service. The solution increases operational efficiency by removing manual errors and reducing time to market for new products.  

About Pricing Partners 

Set up by former professionals of the trading industry, Pricing Partners offers accurate solutions for derivatives products valuation, pricing tools and risk analytics with full transparency.  

Pricing Partners delivers:

-Price-it® Online, an independent revaluation website for vanilla to the most exotic financial products

-Price-it® Excel, a latest generation financial library using a payoff language and cutting edge models 

-Price-it® Source code, an extensive and professional development platform

-Price-it® API, a platform for seamless integration of pricers and analytics into STP solutions

-Price-it® for Kondor+ Suite®, a pricing library integrated into Thomson Reuters Kondor+ Suite®

-Price-it® for Summit MUST®, a financial library integrated into Misys Summit 

Pricing Partners offers cover commodity, credit, equity, fixed income, fx, funds, inflation, interest rates, life insurance and hybrids OTC products. They are widely adopted by investment banks, asset management firms, hedge funds, corporations, pension funds, fund administrators and audit firms.

Pricing Partners holds offices in Paris, London and Hong Kong. Its solutions have been ranked the overall winner in Pricing and Analytics by Structured Products Magazine in 2010 and 2011.

Media Contact: 

Yuxin Mao 

Pricing Partners 

Direct: +33 1 70 60 72 46 

Fax: +33 1 70 60 72 31 

Email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it  

http://www.pricingpartners.com 

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