Numerix, a US-based provider of cross-asset analytics for derivatives valuations and risk management, has opened a new regional office in Seoul, South Korea.

Jinwoo Park, vice president and responsible for the region, will manage the new Seoul office. He will report to Yukiko Nakamura, managing director of Numerix Korean market operations and managing director of Japan operations.

Numerix president and COO Steven O’Hanlon said the company is pleased to now be in a position to provide permanent local support for our South Korean clients.

“Given the continued expansion of the derivatives markets across the region, having local quantitative and sales support for our South Korean clientele is critical as we assist institutions in developing the best practices necessary in this market,” O’Hanlon said.