Organizations Team to Deliver Comprehensive Derivatives Technology Solutions
NEW YORK, December 7, 2000 -- J.P. Morgan (NYSE: JPM) spinoff, Cygnifi (www.cygnifi.com) and Accenture (www.accenture.com) today announced a marketing alliance to provide customers of both companies with the most comprehensive level of Internet-based, derivatives portfolio-management technology solutions and systems integration services available worldwide. The alliance will reduce the high barriers of entry to the growing derivatives market by providing financial professionals with easy access to sophisticated derivatives technology and expertise.
Through the marketing alliance, Accenture and Cygnifi, the leading independent online derivatives services provider for the financial community and corporations, will deliver state of the art derivatives systems, consulting and integration services to banks, financial institutions, corporate treasurers, and other derivatives users worldwide. The alliance offers organizations the ability to leverage advanced derivatives applications as a collection of components, use them over the Internet or private networks, and integrate them with their own internal systems.
“Our goal is to deliver the best e-commerce solutions available," said Robert P. Gach, Global Managing Partner, Accenture’s Capital Markets business. "By teaming with Cygnifi, we can provide a new business-to-business channel for our clients, offering them a way to improve the valuation and management of their derivatives portfolios: reducing risk, reducing cost, reducing capital requirements, and thereby increasing the value to shareholders.
"Accenture’s strategic leadership, implementation resources and experience, combined with our strong derivatives knowledge and expertise will help us provide our customers with technology solutions and integration services that meet the needs of the most demanding derivatives users throughout the world," said Phil Ellis, head of Solutions Services for Cygnifi.
Cygnifi will bring a wide range of capabilities to the alliance based on Cygnifi’s world-class expertise in the derivatives business. Cygnifi’s consultants bring knowledge, designs, and software for development of front, middle and back office functionality. The company’s areas of expertise include pricing, portfolio risk management, legal risk management, collateral management, and counterparty credit calculations.
Accenture, a leading management and technology consultancy, has developed this alliance as part of a broader strategy to create a network of businesses and capabilities to meet the full range of client needs. The firm’s global Financial Services practice provides strategic, technology integration and implementation services to the world’s leading financial services organizations.
Founded in February 2000, Cygnifi.com is an independent online derivatives services provider for the financial community and corporations. Cygnifi, a JP Morgan spin-off, offers easy access to sophisticated derivatives risk management capabilities as a state-of-the-art application service provider (ASP) to traders, asset managers, risk managers, corporate treasurers, and other professionals. Covering both market and credit risk, Cygnifi’s on-line tools and services for pre-trade pricing, independent portfolio valuation, counterparty credit, and collateral risk management will be offered to customers via subscription. Cygnifi also improves the control, transparency and understanding of the marketplace by offering access to trained professionals that can help subscribers analyze and value their portfolios Cygnifi is headquartered in New York City, with additional operations in London and Tokyo. For more information, please visit www.cygnifi.com.