Numerix first direct Korean client — Secured by new regional distribution partner STI CS

New York, NY - March 1, 2010 - Numerix (www.numerix.com), the leading provider of cross-asset analytics for derivatives valuations and risk management, today announced the signing of Hana Daetoo Securities as its first direct Korean customer. Hana Daetoo Securities is the investment banking arm of the Hana Financial Group (HFG) which owns Hana Bank, the third largest bank by asset value in Korea.

Hana Daetoo Securities will utilize Numerix Portfolio across their derivatives desk for trade capture and management, along with enterprise wide risk management of their derivatives positions via Numerix Portfolio’s extensive reporting and scenario analysis capabilities with calculations in a fast and efficient manner.  Hana Daetoo’s trading desks will also utilize Numerix CrossAsset XL pricing and analytics solution for the structuring and issuance of new derivative products by the wide range of models for the Korean market. 

The signing of Hana Daetoo is a direct result of Numerix’s new regional consulting – distribution partnership with Korean based STI CS Inc. 

 “We are very pleased that Hana Daetoo is our first direct Korean client,” said Numerix President and COO Steven R. O’Hanlon. “The Korean derivatives market is one of the fastest growing markets and through the use of our global market standard models along with the unparalleled transparency in the structuring and pricing and valuation tools that we provide, Hana Daetoo will immediately have all the necessary analytics and risk solutions to scale its derivatives platform.  Moreover, our strong partnership with STI will help us deliver our industry leading products and analytics to important customers like Hana Daetoo and the broad Korean market."

 “STI CS is also pleased to have played a strategic role in helping Numerix to secure its first client in the  Korean region,” said Donnie Choi, President of STI CS, “The successful introduction and signing of Hana Daetoo represents a win for all three organizations.”
 

Numerix has been active in the Asian region since 1998 with offices in Tokyo, Hong Kong and Singapore. The signing of Numerix’s first Korean client follows Numerix being named Technology Company of the Year in Asia for the second straight year in 2009 by Structured Products Magazine, and the May 2009 Celent Report which identified Numerix as the leader among its peers- providing advanced technology and functionality for pricing derivatives products, breath of cross asset coverage and depth of client services.

About Numerix
Numerix is the award winning, leading independent analytics institution providing cross-asset solutions for structuring, pre-trade price discovery, trade capture, valuation and portfolio management of derivatives and structured products. 

Since its inception in 1996, more than 375 financial institutions and 45 strategic partners across 25 countries rely on Numerix analytics for speed and accuracy in valuing and managing the most sophisticated financial instruments.  With offices in New York, London, Tokyo, Hong Kong, Singapore and Dubai, Numerix brings together unparalleled expertise across all asset classes and engineering disciplines.  For more information, please visitwww.numerix.com.

About Hana Daetoo
Hana Daetoo Investment Bank is the investment banking arm of the Hana Financial Group (HFG), Korea’s leading financial services group with broad assets holdings. Backed by the strength and stability of HFG, Hana IB offers a wide range of investment banking services for our clients, who look to us for sound advice and innovative solutions. For more information, please visit www.hanaib.co.kr .

About STI CS Inc.
STI CS Inc. is a leading solution provider to the Korean financial industry - providing global, leading-edge financial technology systems. It has been focusing on introducing Trading and Risk Management Systems and achieved a number of success stories in sales and marketing, implementation projects and maintenance and support. Its main business experience is with banks and securities companies, and customers include the top 10 banks in Korea. STI CS has over 20 years of experience in Financial Engineering and IT technology. For more information, please visit www.stics.co.kr .

Media Contact:
Todd Swearingen
Numerix
+1 646-898-1294
tswearin@numerix.com

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