Sweden’s Skandinaviska Enskilda Banken AB (SEB), one of the largest European banking and asset management groups, has taken International Financial System’s MarginMan for its global collateralised trading operations, which will complement the 24-hour trading at its London dealing centre. The bank also plans to soon roll out MarginMan to its New York, Stockholm and Singapore offices.
MarginMan, which is currently used by more than 60 banks globally, is a suite of Web-enabled risk management software applications consisting of specialised collateral-based trading modules. MarginMan determines and values collateral, monitors the risk inherent in the client’s open positions, relates the value of collateral to the size of perceived risk and automatically issues alerts if the collateral/risk ratio drops below pre-defined limits.
The deal also marks the first new client to take the latest version of the risk management product, MarginMan Plus, which was launched at the end of June.