EUROPE - Scandinavian asset management and banking group Glitnir is adopting the SuperDerivatives multi-asset derivatives pricing and analytics platform to all of its foreign exchange currency and equity options.
Glitnir Bank is now one of Iceland's top three private banks and has become a huge player in the Scandinavian financial markets, having acquired several asset management, brokerage and financial adviser businesses in recent years and since its creation through the merger of Islandsbanki and Icelandic investment bank FBA in 2000.
Its move should mean clients have access to additional services such as mark-to-market and risk analysis of their portfolios, and improved trading positions and prices as collaborative online trading and real-time messaging tools should increase productivity between clients, sales team, and the trading desks.
Jóhannes Baldursson, managing director of Glitnir Capital Markets, said it needs the increased pricing and options coverage of SuperDerivatives' Revaluation service (SD-Revaluation) to compete with domestic and overseas banks, asset managers and hedge funds on the buy and sell side.
Glitnir Bank now operates in 11 countries, defining Iceland and Norway as its home markets, alongside operations in London, Luxembourg, Copenhagen, Stockholm, Helsinki, Moscow, Halifax, Shanghai and New York.
Glitnir has grown in size today, in part, by bringing together:
Glitnir's subsidiary BNbank also acquired 45% of Norsk Privatøkonomi ASA in July 2006, an independent financial advisory company with 12 branches in key areas of Norway while in Sweden, Glitnir owns the leading Swedish brokerage firm Glitnir AB (formerly Fischer Partners). In spring 2007 Glitnir completed the 68.1% acquisition of Finnish investment firm FIM
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