Pyxis Systems ties up with WITH UTI Bank

Mumbai, Sep 21: Pyxis Systems, a provider of technology solutions to the global financial derivatives industry, announced that UTI Bank has selected RisKompass as the software solution for financial derivatives risk management. An agreement to this effect has been signed between UTI Bank and Pyxis Systems.

With UTI Bank, Pyxis Systems marks its first client for RisKompass, a state-of-the-art software system for derivatives valuation and risk management, which enables clients to manage derivative trades in a more controlled manner from the front to the back office. It is capable of handling valuation and risk management of a wide range of derivatives instruments, including structured products.

It will provide cutting-edge mathematical models and technology for managing the bank's derivatives portfolio. Pyxis' customer focus will enable the bank to customize and implement the software accurately on ongoing basis. This product offering will be further enhanced with complete after sales support from Pyxis Systems.

Speaking on the tie up, Mr. Nandlal Bhatkar said, ''This is the first time a comprehensive derivatives risk management solution is being provided by a local vendor. We hope that this will satisfy the long standing need of the local market. Pyxis is not only providing the product but also willing to work with the clients to provide complete solution in form of further customization/implementation of the product. Pyxis will be offering Mid Office/Back Office related services to its clients, if they need it.'' Mr R V S Sridhar, Vice President - Treasury, UTI Bank said, '' We selected RisKompass due to the user friendliness offered by the system. The software also offers good portfolio management features and pricing capabilities required to meet the increasingly complex requirements of customer business. It also promises smooth deal processing with checks and balances and online risk monitoring mechanism. We hope to use the software across the bank at multiple locations. The users at the bank would include marketing personnel, dealers and risk managers.''

UNI