FCTM Licenses Summit For Derivatives and Risk Management
First Chicago Tokio Marine Financial Products Co., Ltd (FCTM), a joint venture between Bank One Corp. and Tokio Marine and Fire Insurance Co., announced a decision to implement front-to-back modular software solutions from Summit Systems. FCTM said it intends to ‘reap cost-efficiencies and performance advantages’ from Summit’s integrated, real-time STP platform. Trading capabilities will include support for listed futures, OTC options and derivatives, and credit instruments. Parametric Delta/Gamma/Vega VaR and optimized Monte Carlo VaR lead the list of advanced risk management analytics, while Summit’s STP workflow servers mediate the lifecycles of trades and portfolios maintained within the system.