The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

Sophis and Koscom Win Contract for Hyundai Securities

Sophis, a provider of cross asset, front to back portfolio and risk management solutions, together with its strategic partner Koscom, has been awarded a contract to provide its Value system to Hyundai Securities, a leading Korean investment bank offering wealth management, brokerage and corporate financial services. Hyundai Securities is an affiliated company of the Hyundai Group.

This is the first FICC-driven (fixed income, interest rates, currency and commodities) deal in South Korea, where Sophis is well established as a leader for Equity and Commodities solutions. Under the contract, Sophis and Koscom will be responsible for the implementation of the solution and Koscom the local support and maintenance.

Corinne Grillet, chief operating officer of Sophis Asia, said, “We are delighted with this contract win, not only to be able to work with one of the Korea’s leading securities companies, but also to demonstrate the true cross-asset class capabilities of our renowned Value platform. We are also excited that our partnership with Koscom is proving so successful and we look forward to working with them on many other contracts in the future.”

Sophis and Koscom signed a strategic partnership agreement in September 2009 at a time when the Korean financial industry was changing and growing rapidly following the introduction of the Financial Investment Services and Capital Markets Act (FSCMA). The collaboration has led to some exciting opportunities for Sophis to provide solutions to some of South Korea’s leading financial institutions. The flexibility of Value, Sophis’ buy side cross asset portfolio and risk management solution, proved to be the key winning factor for Hyundai Securities, by linking the evolving Korean market regulations with international practice.

Sang Ryu, head of FICC for Hyundai, said, “In our drive to continually provide authentic financial products to our customers, we recognised that building a modern analytical framework and fully utilising IT technology will be essential in all aspects of our FICC business. Competitive advantage will not be obtainable without a superior quantitative edge. We chose Sophis’ software solution for its flexible and functional customisation.”

Related content

WEBINAR

Upcoming Webinar: A new way of collaborating with data

Date: 15 April 2021 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes Digital transformation in the financial services sector has raised many questions around data, including the cost and volume of reference data required by each financial institution. Firms want to pick and choose the reference data they need to fulfil...

BLOG

DANIE Consortium Uses Game Changing Privacy Enhancing Technology to Improve Client Reference Data Quality

The DANIE consortium set up to help financial institutions improve the quality of their client reference data by benchmarking data with peers without revealing data sources and with encryption, is calling for banks to confirm places in its 2021 community by 18th December 2020. You can find out more and sign up by contacting community@danie.tech....

EVENT

Data Management Summit Virtual

The Data Management Summit Virtual will bring together the global data management community to share lessons learned, best practice guidance and latest innovations to emerge from the recent crisis. Join us online to hear from leading data practitioners and innovators from the UK, US and Europe who will share insights into how they are pushing the boundaries with data to deliver value with flexible but resilient data driven strategies.

GUIDE

Corporate Actions 2009 Edition

Rather than detracting attention away from corporate actions automation projects, the financial crisis appears to have accentuated the importance of the vital nature of this data. Financial institutions are more aware than ever before of the impact that inaccurate corporate actions data has on their bottom lines as a result of the increased focus on...