Modelity was awarded the prize for technological innovation for creating a module that enables product structurers to meet new financial regulations. These regulations include the UK Financial Services Authority’s (FSA) FG12/09 guidance, which details best practices for retail structured product issuers.
Eran Elad, Vice President of Sales at Modelity says, “We started to meet with the market as soon as the FSA guidance came out. We tailored our product based on these conversations, and are proud of our ability to respond quickly and effectively to our clients’ needs.”
According to Structured Products Magazine, “a simple yet ingenious software product…The module allows banks to perform the various test and analyses specified in the guidance…”
In addition to the new solution, Modelity technological innovations in the past year include a full service solution for small and medium-sized banks through which clients can issue structured products. Modelity will advise clients through the building phase and provide all marketing & legal documentation.
Modelity also continued to help clients increase outreach and sales through its educational video and simulation tools. Frank Copplestone, formerly global head of retail structured products at Morgan Stanley, and now of Levendi Financial Products said “We really saw a significant pick-up in the amount of products sold.”
Eran Elad received the award on behalf of Modelity in London on November 12th, 2013.
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