More NewsXinhua Finance and Fermat Partner on Chinese Risk Solution

Xinhua Finance and Fermat Partner on Chinese Risk Solution

Xinhua Finance has signed an exclusive agreement with Fermat to distribute and support Fermat’s range of Basel II, risk and performance management software solutions in mainland China. This alliance will expand Xinhua Finance’s offerings for its core client group of investment firms, credit institutions and, especially, retail and commercial banking operations as they move toward compliance with the Basel II Capital Accords and International Accounting Standards. The pact also enables Fermat to extend its presence in Asia to the rapidly internationalising Chinese financial sector. Fermat’s software solutions complement Xinhua Finance’s product portfolio, which includes market indices, financial data banks, credit ratings assessments, financial modelling tools and a market risk management platform. In particular, Fermat hopes that its regulatory capital calculation and reporting solution, Capital Adequacy Directive (CAD) Basel II, will fulfill growing demand in China for Basel II compliance systems before the 2010 implementation deadline.

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