“We were looking for both a highly functional trading platform to help us manage the pre-trade and post-trade tasks as well as a highly skilled team of derivatives professionals who could provide the last mile services,”
San Francisco, CA and Jefferson City, MO (PRWEB) April 06, 2016
Derivative Path, Inc. is pleased to announce that Central Bancompany, Inc., a multi-bank holding company with over $12 billion in assets based in Jefferson City, MO, has signed up with Derivative Path to start both an end-user and a balance sheet interest rate hedging program.
Central Bancompany presented a unique product support challenge given its multiple bank charters and desire to find a single platform and team capable of setting up a streamlined trading operation for its various bank subsidiaries.
“We were looking for both a highly functional trading platform to help us manage the pre-trade and post-trade tasks in this post Dodd-Frank environment as well as a highly skilled team of derivatives professionals who could provide the last mile services,” said Dave Roehl, Chief Investment Officer at Central Bancompany. “Having worked with other advisors in the past and knowing the relative pros and cons of each, we were thoroughly impressed by the Derivative Path team and their trading platform, DerivativeEDGETM. The team helped tremendously in the initial set up of our hedging program as well as establishing pre-trade and post-trade process support covering Dodd-Frank compliance, legal documentation, hedge accounting, and marketing support needed for the end user derivative business. DerivativeEDGETM gives us access to technology that is superior to other platforms we have seen being used in the marketplace today.”
The state-of-the-art DerivativeEDGETM platform has been designed to be a complete end-to-end solution for derivative trading and servicing. With DerivativeEDGETM, clients have the front-, mid-, and back-office functionality all in one platform, eliminating inefficiencies of working with disparate systems to manage different aspects of the business. DerivativeEDGETM is currently being used by many financial institutions and buy-side institutional clients across the United States, giving them the tools to intuitively structure, price and maintain interest rate derivatives. The platform comes complete with real time market data and connectivity to DTCC for swap data reporting, and to Markit for cleared trade affirmation. The system is designed within a framework that also aids users in meeting their Dodd-Frank requirements as it relates to the execution of transactions with commercial clients and dealer counterparties as well as ongoing data and document retention requirements. Administrators are able to manage user profiles with roles-based permissions and workflows, to ensure controls and appropriate separation of duties.
“We are very excited to be working with Central Bancompany and its subsidiaries,” said Pradeep Bhatia Co-Founder and Co-CEO of Derivative Path. “Central Bancompany presented a unique use case given its multiple bank charters. Our technology team was able to configure the system for use by stakeholders with various roles and responsibilities within Central Bancompany within days. The leadership at the bank possess years of experience trading derivatives at prior organizations and are familiar with both the leading 3rd party derivative support providers and pure play trading technology vendors in the industry. Their decision to choose Derivative Path, to begin their interest rate derivative hedging program, is a testament to the extraordinary capabilities of our team and system designed for financial institutions, buy-side, and end users.”
About Derivative Path Inc.
Derivative Path is a San Francisco Bay Area-based company that provides a technology-led solution to assist financial institutions, buy-side, and commercial end users in executing and managing their over-the-counter interest rate derivative transactions.
The Derivative Path team is comprised of derivative industry veterans who have held senior positions with some of the world’s largest capital markets firms such as Wells Fargo, ABN AMRO, Societe Generale, Bank of America, and JPMorgan Chase.
The team has developed a state of the art derivative trading platform, DerivativeEDGETM, which it makes available to all of its clients. The platform gives derivatives counterparties the confidence to operate a hedging program and manage their trades in compliance with all regulatory requirements, with assistance provided for all pre-trade, trade execution and post-trade life cycle events.
For more information about Derivative Path, visit http://www.derivativepath.com.
About Central Bancompany, Inc.
Central Bancompany is a Missouri-based bank holding company with 13 full-service community banks and more than 250 locations in 66 communities serving consumers and businesses in Missouri, Kansas, Illinois and Oklahoma.
For the seventh year in a row, the prestigious business publication, Forbes, has recognized Central Bancompany as one of America’s Best Banks in its annual review of the nation’s 100 largest financial institutions. Central Bancompany ranked 30th on the Forbes 2016 survey.
For more information about Central Bancompany, visit http://www.centralbancompany.com.