WSD India launches innovative derivatives technology solution for firms in emerging markets
By ANITuesday, May 25, 2010
Mumbai, May 25 (ANI-Business Wire India): Risk-averse banks, institutions and corporations in emerging markets can now outsource their derivatives business to the New Zealand-based WSD Global Markets, following the launch of its new offering from its India offices WSD INDIA, headquartered in South Mumbai.
WSD has commenced its Indian operations in Mumbai, India through a separate Indian incorporated company and plans to expand rapidly its reach and presence in India to Delhi, Chennai, Kolkata, and other metros in the near future.
WSD India will operate through an independent Indian incorporated company in its own offices.
Due to the tremendous demand in WSD’s product offering, many corporations and individuals are looking to become agents or franchisees of WSD India.
Trading in derivatives specially FX and commodity derivatives can be a risky and capital intensive proposition that requires expert knowledge and skills for success.
Putting in place the right processes and systems, both for the front and back office, having an experienced team, call centres, etc. are critical success factors.
“Think of it as an extension of a derivatives division of the bank or institution that wants to outsource this function for trading and hedging in derivative contracts,” said Riaz Patel, Managing Director of WSD Global Markets.
“We provide a complete end to end solution starting from educating the institutions, their staff, and existing client base on these products, ensuring they start using these derivative products optimally, putting in place the front office and back office systems, and ensuring proper risk management processes are followed, and all of this can be done online using the institutions’ current web and online presence,” he added.
Patel said WSD has the advantage of being totally independent and would not be a competitor for the client bank or institution’s customers.
He added that such services have been provided generally by partner banks and there is a fear they may have access to confidential customer banking information, whether institutional or personal.(ANI)
