Sophis, a provider of cross-asset, front-to-back portfolio and risk management solutions, has worked with ABN AMRO in the Netherlands to build its new structured products business on Sophis Risque.
Based at ABN AMRO’s Netherlands operation in Amsterdam, the system went live in December 2009 and will support up to 50 users. Covering structured products, equities and hybrids, the system will be used by trading, sales, and risk management and operations teams.
Moreover, it will be used to calculate VaR, externally publish real-time pricing to offer two-sided quotes (bid/ask) and provide front-to-back office straight through processing. ABN AMRO will add further capabilities to the system, including full risk management, during 2010.
Younes Guemouri, COO of continental Europe at Sophis, said: “It is encouraging to see banks such as ABN AMRO setting up new business streams and we are delighted that ABN AMRO chose Risque for this project in the Netherlands.
“This was a large and challenging project that nevertheless needed to come to a conclusion within a relatively short timeframe. We are pleased to have contributed to the success of the project with both our software platform and our experienced team.”