FINCAD, the leading provider of OTC derivatives pricing and risk management solutions, today announced that the Moscow Exchange (MOEX) has chosen FINCAD’s F3 Platform to support its OTC derivatives trading and clearing services. MOEX offers currency derivatives on a number of assets including the USD/RUB and EUR/RUB exchange rate.
F3 Platform provides MOEX the coverage, functionality and technology they need to support highly competitive services for their members to analyze, trade and clear OTC derivatives. FINCAD risk computations enable MOEX members to carry out risk analysis – computing independent risk factors and calculating initial margin effectively – without needing to perform their own lengthy risk computations. With F3 platform in place, MOEX is drawing a considerable volume of cross-currency and interest rate swap trades. F3 allows for multi-asset class risk management and valuations.
“Right when the project was launched, we had nine major banks sign up for the OTC Clearing Service with MOEX,” said Alina Tsarenko, Head of OTC Coverage at MOEX. “As part of the due diligence process to join the service, their credit officers and quants performed thorough analysis of the risk models applied by MOEX and run on F3 Platform.”
“I knew that if we were to compete in the world’s top exchanges in the business of clearing and trading OTC derivatives, we needed an analytics platform that was not only accurate, but also fully transparent,” said Roman Sulzhyk, Managing Director of MOEX. “FINCAD is a world-leading solution with proven accuracy, and F3 Platform is entirely transparent. We have quants, risk managers and developers using the software, and everyone finds it easy to deploy and easy to use.”
“MOEX is one of the top exchanges in the world and their integration with F3 Platform grants their customers access to the best analytic tools in the OTC derivative space,” added Bob Park, President and CEO of FINCAD. “There’s a clear desire for this level of risk analysis and we’re looking forward to a collaborative and successful relationship with MOEX.”