New Partnership Agreement Leverages Numerix CrossAsset Pricing & Risk Analytics to Strengthen Core Banking Applications & Treasury Functions across Globit’s Turkish Client base

New York, NY – February 24, 2014 – Numerix, the leading provider of cross-asset analytics for derivatives valuations and risk management, and Global Information Technologies (Globit), today announce a new partnership agreement where Numerix analytics will be leveraged and implemented by Globit in the Turkish market. The combined offering will provide an integrated pricing solution for core banking applications so that retail branches can price and sell FX derivatives within pre-defined limits.

In this region small to medium sized corporates and individuals are looking for FX derivative products which they can directly buy from bank branches. Banks want to provide FX derivative products for these customers but operational costs are too high; core banking systems of the retail banks don't have appropriate pricing tools for FX derivatives and all requests are sent back to the treasury for pricing. This delays the sales process and increases the workload of the treasury. Also faced with growing FX exposure, a combined solution will help banks to decrease their operational cost and enable a faster sales process.        

“At Globit we pride ourselves on providing integrated software solutions that address real-world business problems within Finance and Banking institutions, and critical to our success are the technology alliances we forge. With Numerix we’re able to offer our customers a wider range of products, services and the customized solutions they demand, with greater value add,” said Ozan Vakar, Founder and Chief Executive Officer of Globit. “In leveraging the strength of the Numerix model library, combined with the flexibility and scalability of the CrossAsset platform, our partnership will enable banks throughout the region to provide automated pricing for the sales process which later on can be sent to treasury for hedging purposes. This is powerful functionality and only possible through our collaboration.”

“Globit has deep rooted software capabilities with proven success in designing, developing and implementing a diverse range of technology solutions across treasury front, middle and back office. Supported by an experienced team of integration professionals and financial engineers, we see this partnership as a natural extension of our analytics, and opportunity to expand into a new territory,” says Steven R. O’Hanlon, Chief Executive Officer and President of Numerix. “With the local knowledge and expertise of the Turkish market, we’re excited to support Globit – complimenting, improving and enhancing solutions and solving problems that perhaps wouldn’t have been possible before. And today that means a faster sales cycle for FX derivatives, and lower demand on treasury resources.”

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, over 700 clients and 75 partners across more than 25 countries have come to rely on Numerix analytics for speed and accuracy in valuing and managing the most sophisticated financial instruments. With offices in New York, London, Paris, Frankfurt, Milan, Stockholm, Tokyo, Hong Kong, Singapore, Dubai, South Korea, India and Australia, Numerix brings together unparalleled expertise across all asset classes and engineering disciplines. For more information please visit

About Globit
Global Information Technologies (GLOBIT) delivers Market Limit, Value at Risk, Credit Line Management and middleware products, as well as customization, implementation and first level support services to more than 100 banks and financial institutions worldwide. As a partner of Numerix, GLOBIT provides consulting services for derivatives and structured products, as well as integration services for embedding Numerix analytics into existing risk management and valuation systems. For more information please visit:

Emily Ahearn
Director of Public Relations
Phone 646 898 1294

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