Numerix Strengthens Asia Presence with New Taiwan Office Opening
Numerix, the leading provider of cross-asset analytics for derivatives valuations and risk management, has expanded its local presence in Asia-Pacific with the opening of a new office in Taipei, Taiwan. With numerous offices already established throughout APAC including China, Hong Kong, Japan, South Korea, India and Australia, Numerix has successfully supported the demand for independent pricing and risk analytics in the region for well-over a decade.
Though the regulatory requirements outlined by Basel III, Solvency II and International Financial Reporting Standards (IFRS) are not pervasive, the pressure to comply with industry best practices is increasing as financial institutions in Taiwan look to fulfill select mandates introduced by the Basel Committee on Banking Supervision starting in 2013. Therefore, Numerix has established a permanent office in Taiwan to better serve its prominent client base in this market and the growing demand for structured products and exotic instruments throughout APAC.
“I’m pleased to announce the opening of our new Taiwan office which is a testament to our recognized analytics expertise, market leading position and expanded business in Asia. Numerix is proud of the innovation and world-class solutions we’ve brought to this region helping to solve today’s complex valuation and risk management challenges,” said Steven R. O’Hanlon, President & COO. We see great potential for further expansion in Taiwan especially as domestic banks in the region require faster, more accurate pricing and risk analytics to meet new business and regulatory requirements.”
Numerix will also focus on building new, dynamic partnerships across the region where Numerix analytics can easily integrate with, or support existing products and infrastructure. New to the Numerix team is Steve Yen, Vice President Business Development for APAC. Based in Taiwan, to support current customers and continued derivatives market growth, Mr. Yen will be responsible for working closely with all of the Numerix regional and global partners throughout the Asia-Pacific market. Previously Mr. Yen worked with Numerix partner Thomson Reuters where he became conversant in Numerix products and services.
“As structured products are steadily growing in Taiwan so has the request for more robust pricing analytics, for both market risk and credit risk. With the onboarding of Steve and the establishment of the new office I’m confident Numerix will continue to expand and best its competition in the region,” said Stephen Cheng, Numerix SVP of Sales for Greater China. “Numerix provides the flexible, consistent valuation foundation needed to implement a sound framework for pricing and hedging a single asset class, or a complex cross-asset OTC portfolio; something many of our customers in Taiwan have already come to rely on for speed and accuracy in managing any conceivable type of financial instrument.”