GL TRADE signs Fermat Deal with Raiffeisen Zentralbank (RZB)

GL TRADE, global provider of electronic trading, clearing, settlement and risk management solutions, announces the signature with Raiffeisen Zentralbank Österreich AG (RZB) for the entire Fermat Risk management suite (Basel II, Credit Risk, ALM, VaR and IAS). This deal will help RZB, one of the largest banks in Austria, to meet the enterprise requirements for their normative credit and market risk management. RZB will use the risk management suite to build an integrated group-wide enterprise risk management system - the implementation based on Fermat has already started. Components for Basel 2 compliance will be delivered in time to meet regulatory deadlines.

RZB is the central institution of the Austrian Raiffeisen Banking Group, the country’s most powerful banking group. Via listed subsidiary Raiffeisen International Bank Holding AG, RZB operates the leading banking network in Central and Eastern Europe, where it serves more than 5.2 million customers via some 950 business outlets.

The Fermat Solution offered by GL TRADE was chosen after thorough analysis in competition with major solutions.

Gebhard Kawalirek, Head of Risk Management at RZB, comments: " A key element within our decision making was the integrated global risk platform of Fermat’s Risk Management Suite covering the Basel II, Credit Risk, ALM, VAR and IAS aspects."

Patrice de Berranger, Head of Normative Risk Business Line, GL TRADE, added: "The Fermat suite of solutions has built a reputation on meeting regulatory requirements within a very short period of time. Our commitment to RZB to meet the needs of a dynamically growing enterprise is a key factor to this selection. The Fermat suite of solutions now has 20 Basel II references, including some of the world’s largest financial institutions. The capability of Fermat Suite to handle Basel II Credit risk and Market risk measurements and controls within the same data environment will be a strong advantage and a value solution for RZB."

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