Belfius Bank Selects Numerix CrossAsset
Owned by the Belgian state and formerly known as Dexia, Belfius aims to reduce its operational risk through a more granular oversight of its derivatives trading operations. CrossAsset's libraries allow for the bank to compare different models in order to validate risk sensitivity and pricing outputs, as well as simulate how the results vary under different parameters.
"As the property of the Belgian government with the mandate of creating added value in various forms of society, we have a responsibility to our customers to guarantee the accuracy and completeness of the models used throughout our derivatives and risk operations," says Luc Leonard, head of validation at Belfius. "But reactivity and efficiency are also key success factors in a very competitive environment. Numerix was thus an excellent match to our needs: it will significantly improve our efficiency by allowing us to perform deeper and more challenging analysis under shorter time delays."
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