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State-owned bank will use software for pricing complex foreign exchange derivatives.
China International Trust and Investment Corporation (CITIC) Bank International has chosen Pricing Partners for its foreign exchange (FX) structured products portfolio pricing.
The bank will use Price-it Excel, in an agreement signed by its regional partner Belatos, primarily in its risk management team. CITIC Bank International is a part of the CITIC Group, a state-owned investment company of the People's Republic of China.
"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," says Dominic Tsui, head of market risk at CITIC Bank International.
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