UBITRADE SIGNS FIRST DEAL IN ISRAEL WITH BANK OF JERUSALEM

Ubitrade (formerly known as ATSM), a leading supplier of advanced systems solutions for trading, risk management and back office on capital markets to over 120 clients in 20 countries, today announces the sale of its Ubitrade Capital Markets solution (formerly known as Tradix), the global trading system for fixed income, forex and equities to Bank of Jerusalem, one of Israel's leading financial institutions specialising in both real estate financing and private banking for overseas clients.

Bank of Jerusalem has selected Ubitrade Capital Markets to support its capital markets activities. Formerly a mortgage bank, Bank of Jerusalem is now developing its commercial and private client business as a diversification from its mortgage lending business in Israel. Ubitrade Capital Markets will provide Bank of Jerusalem with a front-office and risk management structure to manage its capital market activities including money market, FX, bonds and derivatives.

Ubitrade Capital Markets is a global trading and risk management system for Interest rate, Forex and Equity markets. Ubitrade Capital Markets provides a range of trading-orientated pricing, position keeping, limit checking, sensitivity tools for cash products, derivatives and exotics and offers middle office operators an ideal set of market, liquidity and credit risk management tools and controls.

Eytan ADMONI, FX and International Trade Manager at Bank of Jerusalem, commented: “We were impressed with Ubitrade Capital Markets’ capacity to cover Money Market / FX instruments as well as Bonds and Interest Rate Derivatives. We will use this solution to support our global markets activities with installations in Tel Aviv and Jerusalem. A key element in our decision was also the flexibility of the solution and Ubitrade’s ability to customise it according to our requirements.”
Didier Bouillard, Chief Executive Officer, Ubitrade, commented: “ Israel and the Middle East offer great opportunities to financial institutions in the region to develop their derivatives trading activities. The globalization and increasing sophistication of the world financial markets continue apace. This environment demands software tools that can embrace the full spectrum of securities and OTC instruments as well as the varied strategies and mechanisms used to trade them.”

Nathalie Dassas, Account Manager or
Sophie Hull, Managing Director Vanbrugh Financial Communications
Tel: + 44 207 569 6720

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