Reech Capital is to provide Crédit Agricole Indosuez with its proprietary derivatives script, ADEP, and its web-based user interface for their fixed-income exotic derivatives business. ADEP (Automatic Derivatives Pricer) is a pricing system that understands and analyses the description in plain English of financial products, from a plain vanilla swap or option to complex hybrid structures, and provides its value and risk management parameters. When used on-line, ADEP offers access to Reech Capital’s in-house processing power and market parameter database, enabling complex derivatives to be priced within a few clicks. The deal will allow the bank to communicate with ADEP worldwide. Crédit Agricole Indosuez will integrate the language with its own models which it hopes will allow greater flexibility when creating new products and facilitate the development of a straight-through processing platform for their risk, middle and back office.
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