French Banking Group CM10-CIC Selects Quantifi XL

June 3, 2011
  • Leading French Banking Group Licenses Quantifi XL

London and New York (3rd June 2011) - Quantifi, a leading provider of analytics, trading and risk management solutions for the global capital markets, today announced that CM 10-CIC, has gone live - for its market activities operating under CM-CIC Marchés - with Quantifi XL as its front-office pricing and analysis tool. CM10-CIC is one of the oldest and largest banking groups in France, consisting of ten regional banks which operate through a network of 1,844 branches.

CM-CIC Marchés uses Quantifi XL to support their trading operations, which includes flow and derivatives products. CM-CIC sought a powerful and advanced pricing and structuring tool. In comparison to the competitive solutions they considered, Quantifi XL proved to fit all the necessary requirements. CM-CIC recognised that the speed, accuracy and flexibility of Quantifi XL would help them better value and manage the risk associated with their complex derivatives positions.

 


 

"Quantifi has a strong track record in this space and we expect to see significant benefits as we now have access to a proven solution that matches prices in the market combined with responsive support."

Linda Kessour, Senior Derivatives Trader at CM-CIC Marchés


 

Senior Derivatives Trader Linda Kessour, CM-CIC Marchés, commented, “As we looked to expand our business, it was important for us to have access to a market-validated pricing and analytics tool. Sophisticated pricing models, un-matched asset coverage and an intuitive interface were all key drivers behind CM-CIC’s decision for choosing Quantifi XL. Quantifi has a strong track record in this space and we expect to see significant benefits as we now have access to a proven solution that matches prices in the market combined with responsive support.”

Quantifi XL provides fast and accurate pricing and structuring for even the most complex OTC products in a flexible Excel environment. Comprehensive, powerful, and easy-to-use functions cover the simplest accrued interest calculations to the most advanced pricing and sensitivity analysis. Extensive on-line help, tutorials, and worksheet examples make getting started and using Quantifi XL simple and intuitive.

Rohan Douglas, CEO of Quantifi, commented, “We are delighted to welcome CM-CIC to our expanding client base of sell-side institutions, particularly in France. Changes to OTC valuation practices, central clearing, Solvency II, Basel III and other regulatory initiatives all require a significant focus on analytics and technology and are expensive and time consuming to implement. This is an environment where Quantifi provides even more value to our sell-side clients by providing tools that deal smoothly with these challenges and allow them to focus on and respond immediately to market opportunities as well as risks.”

 


 

About CM-CIC Marchés

CM-CIC Marchés gathers the market activities of Credit Mutuel-CIC Group. The second largest retail bank in France, Crédit Mutuel Group is made up of the Crédit Mutuel network and its subsidiaries, which include CIC.

Quality of service and excellent long-lasting relationships with its 17.4 million clients, including 17.1 million individual clients, are the main objectives of Crédit Mutuel Group. Its 65,500-strong workforce ensures that it has the necessary expertise in all financial business lines. This is enhanced by a strategy of ongoing development with a focus on local banking, insurance services and technological leadership.

For further information, please visit CM-CIC Marchés