More NewsGlobit Partners with Numerix for FX Derivatives in Turkish Market

Globit Partners with Numerix for FX Derivatives in Turkish Market

Cross-asset analytics specialist Numerix and Global Information Technologies (Globit) have agreed a new partnership specifically for the Turkish market.

Numerix analytics will be leveraged and implemented by Globit and the combined offering will provide an integrated pricing solution for core banking applications so that retail branches can price and sell foreign exchange (FX) derivatives within pre-defined limits.

Numerix added that Turkey’s small to medium sized corporates and individuals are looking for FX derivative products which they can directly buy from bank branches. Banks want to provide FX derivative products for these customers but operational costs are too high; core banking systems of the retail banks don’t have appropriate pricing tools for FX derivatives and all requests are sent back to the treasury for pricing.

This delays the sales process and increases the workload of the treasury. Also faced with growing FX exposure, a combined solution will help banks to decrease their operational cost and enable a faster sales process.

“With Numerix we’re able to offer our customers a wider range of products, services and the customised solutions they demand, with greater value add,” said Ozan Vakar, founder and chief executive officer (CEO) of Globit.

“In leveraging the strength of the Numerix model library, combined with the flexibility and scalability of the CrossAsset platform, our partnership will enable banks throughout the region to provide automated pricing for the sales process which later on can be sent to treasury for hedging purposes. This is powerful functionality and only possible through our collaboration.”

Related Articles

Infosys Finacle to power Santander UK’s international cash management system

More News Infosys Finacle to power Santander UK’s international cash management system

4w The Global Treasurer
Preparing for GDPR? Here’s four things to consider

More News Preparing for GDPR? Here’s four things to consider

4m Elliott Wiseman
Cash flow in focus for investors

Cash Management Cash flow in focus for investors

5m Conor Deegan
Treasury TV: Karen Pugsley, Domino's Pizza Group

More News Treasury TV: Karen Pugsley, Domino's Pizza Group

5m Victoria Beckett
Treasury TV: Yeng Butler compares US and European MMF reforms

Compliance Treasury TV: Yeng Butler compares US and European MMF reforms

5m Victoria Beckett
Treasury TV: Tim de Knegt, The Port of Rotterdam

10 Minutes With The Treasury Treasury TV: Tim de Knegt, The Port of Rotterdam

5m Victoria Beckett
Banks are selling clients short with short dated cash deposit U-turns

Banking Banks are selling clients short with short dated cash deposit U-turns

6m Victoria Beckett
What does sterling’s Brexit boost mean for UK manufacturers?

More News What does sterling’s Brexit boost mean for UK manufacturers?

6m Tasja Botha