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PRESS RELEASE : P&K financial group selects Systemic's Market Risk Solution

P&K financial group selects Systemic's Market Risk Solution

P&K, one of the largest Securities & Asset Management Groups in Greece, completed the implementation of Systemic Risk Management's (SRM) Market Risk Solution (RV Market) to actively manage the risks of its proprietary and customers' managed accounts, and mutual funds.

P&K manages an active portfolio in the international equity and derivatives markets; containing a variety of instruments and products for including equities & index futures and index options.

Being a progressive organization, Risk Management has always been high on the agenda of P&K Securities which has been tracking and monitoring market risk (VaR) for a number of years across their various portfolios. As the number of trades, portfolios and product range begun to increase they soon found that scalability and flexibility was becoming an issue. They identified the need for a more robust and yet cost effective scalable Risk Management Solution which incorporates the current best practices.

"We used to cover our risk management needs through a UK based firm. But we felt that a local player would be in a better position to understand our unique needs in Greece. Systemic was the obvious choice as, among others, they have successfully covered the requirements of large domestic financial institutions for a number of years", said Achilleas Kontogouris, Managing Director, P&K Securities.

Aristides Protopapadakis commented: "RV Market is a powerful, cost-effective software solution, which supports market risk management operations. It is developed by practitioners for practitioners and it offers a wide range of analytics and risk measurement techniques, including Value-at-Risk based on Monte Carlo simulation and Stress Testing. It may also be extended to cover other Front, Middle and Back Office areas related to portfolio management."

SRM is a leading solutions and services provider in financial risk management and derivatives trading. SRM provides sophisticated, yet affordable and practical risk management solutions with customers including National Bank of Greece, HSBC Bank, Societe Generale, Merrill Lynch International - Financial Futures and Options, the Cooperative Banks of Greece, and many more.

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About Systemic Risk Management:

Systemic Risk Management (SRM) is a leading solutions and services provider in financial risk management and derivatives trading. Founded in 1999 by a team of former bank executives it combines financial expertise with IT know-how, resulting to a growing customer base extending from Europe to the Middle East.

SRM provides sophisticated, yet affordable and practical risk management solutions. Its' strength stems from the fact that most of its' people have first-hand business experience in the banking industry and the global financial markets; this results to minimum effort and time to understand customer needs, work out a customized solution, and train users.

Customers include some of the largest organisations in the Eastern Mediterranean region ranging from multinational banks to local securities brokerages. Currently, more than 20 institutions rely on SRM technology, with over 100 installations in several countries, including Cooperative Banks of Greece, HSBC Bank, the National Bank of Greece, Societe Generale, Merrill Lynch International - Financial Futures and Options, Merit Securities S.A., Nexus - Eurolink and many more.

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