UTI bank selects Pyxis Systems' software

By Indo Asian News Service | Thursday, September 21, 2006 | 10:17:37 PM IST (+05:30 GMT) Comment 0 Comment

New Delhi, Sep 21 (IANS) Technology solutions provider Pyxis Systems Thursday announced that UTI Bank has selected its derivatives risk management solution division RisKompass as the software solution for the financial derivatives industry.

New Delhi, Sep 21 (IANS) Technology solutions provider Pyxis Systems Thursday announced that UTI Bank has selected its derivatives risk management solution division RisKompass as the software solution for the financial derivatives industry.

RisKompass is a software system provided by Pyxis Systems for derivatives valuation and risk management, which enable clients to manage derivative trades in a more controlled manner from the front to the back office.

It is also capable of handling valuation and risk management of a wide range of derivatives instruments, including structured products.

Nandlal Bhatkar, co-founder Pyxis Systems, 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.'

UTI Bank is Pyxis Systems' first client for the product.

Pyxis customer focus will enable the bank to customise and implement the software accurately on ongoing basis. This product offering will be further enhanced with complete after sales support from Pyxis Systems, stated a release.

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.'

'We hope to use the software across the bank at multiple locations.'

Founder and president of Pyxis Systems, Sunil Nikhar, said: 'The derivatives industry globally has a rational view for investment in technology systems and this will drive demand for RisKompass, our integrated solution for derivatives.'

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