French Banking Group Picks Quantifi for OTC Derivatives

French banking group CM 10-CIC, operating under the name of CM-CIC Marches, went live with Quantifi XL as its front-office pricing and analysis tool for OTC derivatives, according to today’s announcement.

The retail-banking group is using Quantifi for it market activities, to support their trading operations, which includes flow and derivatives products, according to Quantifi’s release.

According to the company’s release, CM-CIC is one of the oldest and largest banking groups in France, consisting of ten regional banks, which operate through a network of 1,844 branches. It recognized that the speed, accuracy and flexibility of Quantifi XL would help them better value and manage the risk associated with their complex derivative positions.

In a prepared statement, Senior Derivatives Trader Linda Kessour, CM-CIC Marchés, commented, “As we looked to expand our business, it was important for us to have access to a market-validated pricing and analytics tool. Sophisticated pricing models, un-matched asset coverage and an intuitive interface were all key drivers behind CM-CIC’s decision for choosing Quantifi XL.

In the same release, Rohan Douglas, CEO of Quantifi, cited the impact of new regulations on the firm’s expanding client base of sell-side institutions, particularly in France. “Changes to OTC valuation practices, central clearing, Solvency II, Basel III and other regulatory initiatives all require a significant focus on analytics and technology and are expensive and time consuming to implement."

Ivy is Editor-at-Large for Advanced Trading and Wall Street & Technology. Ivy is responsible for writing in-depth feature articles, daily blogs and news articles with a focus on automated trading in the capital markets. As an industry expert, Ivy has reported on a myriad ... View Full Bio