Hong Kong, 19 April 2010: Banco Bilbao Vizcaya Argentaria (BBVA), one of the largest European banks, announced that it has selected SuperDerivatives (SD), the global derivatives benchmark and leading multi-asset front office system, to support its currency derivatives business in Hong Kong and to better meet its clients’ changing needs.

In allowing better pricing standards across the board, the SD-FX front-office solution gives BBVA’s sales teams, traders and structurers access to accurate, real-time market prices, risk management and analytics for all currency options.

BBVA, which has been operating in Asia for over 20 years, has a strong presence in corporate and investment banking. In Hong Kong, the bank is particularly strong in trade finance.

BBVA is among Europe’s leading banks, with presence in over 30 countries worldwide. Its Asia headquarters are in Hong Kong, with branches in Tokyo and Singapore, and representative offices in Taipei, Seoul, Beijing, Shanghai, Sydney and Mumbai.

SD is the market’s benchmark system for derivatives pricing. SD’s wide coverage spans all FX derivatives, from vanilla to the most advanced structures, across the full spectrum of currency pairs, from major currency types to emerging markets. It is used by most of the banks in the world that trade derivatives and numerous corporations, hedge funds, brokers, auditors and central banks.

Jeffrey Chu, BBVA Head of Fixed Income, Currency and Commodities, said: “Deploying SD’s solution in Hong Kong makes perfect sense. BBVA has been using it in Madrid and México headquarters for years now. As the market leader, SD serves as the market’s benchmark for FX derivatives and it’s an excellent system to support our business. Their solution will enable us to further enhance our product offering to our customers in Asia as well as optimise our staff productivity and workflow.”

Irene Zaslavsky, SD’s regional manager for Hong Kong, said: “We are delighted to be offering our services to BBVA, a truly world-class bank. In addition to automate the daily work flow and improve sales people productivity, our solution will give BBVA the ability to offer its clients accurate, transparent and real-time information and to enhance reporting and risk management.”

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About BBVA (Banco Bilbao Vizcaya Argentaria)
BBVA is a financial services group with more than €535 billion in total assets, 48 million clients, 7,466 branches and 104,000 employees in more than 30 countries. The BBVA Group maintains a leadership position in Spain, Mexico, Latin America and the Sunbelt Region of the United States. BBVA is also developing strong operations in Asia specifically in China. BBVA is listed in the main international stock exchanges, London NYSE and Madrid, among others. BBVA reported in 2009 recurrent attributable profit of €5.2 billion, excluding one-offs, and is one of the top leading Eurozone banks in terms of ROE and efficiency.

BBVA has created a highly specialised derivatives and structured products all around the word to cater the financial needs of BBVA’s global clients, providing them with value-added solutions to manage and hedge risks.

About SuperDerivatives
SD is transforming the world of derivatives by introducing transparency to all major traded derivative classes including foreign currency, interest rates, equities, commodities, energy and credit. Providing prices that reflect the interdealer market has led the company’s web-based, market-calibrated solutions to be widely accepted as the benchmark for derivatives pricing. 

Trading professionals on both the buy and sell side benefit daily from SD’s unique combination of unbiased, aggregated market data and sophisticated modelling techniques. The company also provides fully-fledged risk management solutions, award winning derivatives data and independent portfolio revaluation services.

At the core of all the company’s solutions is SD’s extensively sourced and intelligently amalgamated market data, comprising true live market rates that are acid tested in real-time in the marketplace by active traders and run through a proven pricing model.

SD customers include leading banks, hedge funds, asset managers, custodians and hedge fund administrators in more than 60 countries, supported by a global network of SD offices with 24-hour support services.

SD’s multi-asset solutions also cover interest rates, commodities, energy, equities and credit derivatives, enhancing the efficiency and effectiveness of the organisation’s entire derivatives business.

www.sdgm.com

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