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United Bank Limited implements Principia System

Thursday 26 May 2005 09:39 CET | News

United Bank Limited (UBL) has successfully implemented the Principia System for managing its derivatives business. The bank is the first one in the country to adopt derivatives in its trading and risk management practices.

After an extensive review of derivatives risk management system, the bank selected the Principia System on the basis of its broad functionality and ease of installation and maintenance. As the swap market continues to evolve in Pakistan, the system will enable UBL to strengthen its first-to-market advantage in the Pakistani derivatives market. It will enable the bank to more accurately price, risk manage and account for a wide array of derivative instruments. Principia Systems core application met all of UBLs business functional requirements for end to end processing. The installation is currently situated at the banks treasury division at its head office in Karachi. I believe this is the first of its kind: a straight-through-processing derivatives risk management system installed in Pakistan, states Risha A. Mohyeddin, Group Executive, Treasury & Capital Markets at UBL. The bank also plans to leverage the integrated cross-asset functionality of the Principia System, including its fixed income and structured products portfolios, for unified portfolio management, risk management and accounting.


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Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce