Hyundai Securities, an affiliated company of the Hyundai Group and a provider of investment banking services in South Korea, has awarded Sophis and Koscom a contract for VALUE system, Sophis’ buy-side cross-asset portfolio and risk management solution.

According to Sophis, VALUE is a front-to-back investment management system that provides complete cross-asset coverage for the buy-side from equities and fixed income to all forms of derivatives.

The system helps firms build superior decision support, manage portfolios and compliance, and generate portfolio accounting regardless of product breadth. Its fully integrated risk management capabilities enable firms to monitor exposures in real-time.

Under the contract, Sophis and Koscom will be responsible for the implementation of the solution and Koscom the local support and maintenance.

This is the first FICC-driven (fixed income, interest rates, currency and commodities) deal in South Korea for Ireland-based Sophis.

Sophis and Koscom signed a strategic partnership agreement in September 2009, to provide solutions to South Korean financial institutions.

Sang Ryu, head of FICC for Hyundai, said: “In our drive to continually provide authentic financial products to our customers, we recognized that building a modern analytical framework and fully utilizing IT technology will be essential in all aspects of our FICC business. Competitive advantage will not be obtainable without a superior quantitative edge. We chose Sophis’ software solution for its flexible and functional customization.”