CITIC Bank Deploys Numerix Analytics

NEW YORK, May 12, 2009Numerix, a leading independent provider of advanced analytics for derivatives and structured products, announced today that China CITIC Bank, a unit of China Citic Group- a financial trust controlled by the Chinese government, has deployed Numerix analytics via its Numerix 7 for Excel solution for assessing and pricing complex financial instruments, as well as managing the risk exposures of these products.

“We selected Numerix because we value its wide range of asset-class-based analytic tools and models, as well as its ability to generate risk information,” said Pan Fengru, General Manager of the Market Analysis Department of CITIC.

CITIC will utilize Numerix 7 for Excel throughout the transaction process, enabling CITIC users to evaluate all the necessary information for risk management.

“We are pleased to work with CITIC in meeting their needs for assessment and risk management as they consolidate their market position and work across various asset categories,” said Numerix President Steven R. O’Hanlon. “Pricing and assessing derivatives and structured products plays a pivotal part in product design, and we are confident about the critical role of Numerix analytics in that process.”

“The recent agreement with CITIC shows that financial institutions are reexamining the way they exercise proper risk control from front office to back office in order to maintain their competency in a market full of challenges,” said Mr. O’Hanlon. “This trend has driven global demand for the independent pricing and assessment of derivatives and structured products.”

Numerix established an office in Hong Kong in January 2008 to better serve its growing client base in the Northern Asia-Pacific region. Numerix was also named the 2008 “Technology Provider of the Year” in Asia by Structured Products magazine.

About Numerix 
Numerix is the leading 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 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 visit

About Citic 
Established in 1987, CITIC (originally named CITIC Industrial Bank) is one of the earliest new rising commercial banks in China’s reform and opening to the outside world, the earliest commercial bank of China to participate into financing in domestic and foreign financial markets, and is well-known at home and abroad for being No. 1 in many aspects in modern Chinese financial history. During the past 20 years, CITIC was growing stronger and bigger, spreading its businesses into more than 70 countries and areas around the world, and establishing over 540 branch institutions throughout the country. CITIC has become one of the strongest domestic commercial banks, and a national commercial bank with powerful, comprehensive competitiveness.

Emily Ahearn
Director of Public Relations
Phone 646 898 1294

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