News

November 30, 2009

Point Nine Wins Award for Most Innovative European Project of the Year

Point Nine, a leading provider of Middle and Back Office Services, is pleased to announce they have won the award for Most Innovative European Project of the Year at the 2009 ICFA Awards.

Point Nine's new Counterparty Risk and associated Collateral Management outsourcing service took top honours for Most Innovative European Project of the Year, beating out BNP Paribas Securities Services, Brown Brothers Harriman, Butterfield Fulcrum, Citi and Northern Trust. Point Nine's new offering was developed in response to their client needs to report accurate real time counterparty risk exposures, netted collateral calculations and daily collateral settlement.

Prior to the economic crisis, parties to derivative transactions placed more focus on market risk than counterparty risk. There were no formal processes in place which enabled the buy side to calculate the current and potential risk exposures to their counterparties, nor could they calculate in a timely manner the correct netted collateral amount they had to pay to or receive from their counterparties. Point Nine's new reporting module, enables clients to access all appropriate reports regarding their counterparty risk exposure across their entire derivative portfolio, as well as the up-to-date collateral requirements regarding all of these transactions.

"Counterparty Risk Management is receiving significant focus from regulatory bodies across the globe, as new financial regulations are expected to force financial institutions that undertake derivative transactions to monitor their counterparty risk exposures accurately and in real time,", said Yannis Matsis, CEO Point Nine. "Our new service is unique and will help our clients with their regulatory and compliance requirements. We are thrilled to have won such a prestigious award from the ICFA, as they are an innovative and informative publication, providing comprehensive global coverage of middle and back office issues to our industry."

The winners of the 2009 International Custody and Fund Administration (ICFA) Awards were announced on 25th November, 2009 at Grosvenor House, London. The awards gala brought together the cream of the crop in the city to award the best in breed custodians, fund administrations, legal advisors and service providers for their achievements in 2009.

For more information about the awards please click here.

In Summary

December 15, 2009: Point Nine Welcomes Jeff Kushner to its Board of Directors. ›››

December 8, 2009: Point Nine Highly Commended as European Middle Office Provider of the Year. ›››

December 3, 2009: Funds Europe Awards 2009. ›››

November 30, 2009: Point Nine Wins Award for Most Innovative European Project of the Year. ›››

November 13, 2009: Point Nine Shortlisted by Industry Experts for Two Prominent Awards. ›››

August 18, 2009: Point Nine Enhances Corporate Action Processing Services through Alliance with FactEntry. ›››

August 1, 2009: Hedge Magazine - Three's Company. ›››

June 17, 2009: HFM: Middle Office Focus. ›››

May 18, 2009: Point Nine Moves London Offices to the City. ›››