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Bank of Oklahoma adds EGAR’s FOCUS to its operations in move to stay ahead of the curve In a move toward expanding its customer services, Bank of Oklahoma began offering energy hedge products in 2001. To enhance the quality of this service for this growing business, BOk needed the technological sophistication necessary to more efficiently value, process, record and report customer trades and positions. Tally Ferguson, Head of Risk Management at BOk, found this sophistication in EGAR Technology’s FOCUS system, an efficient and highly complex derivatives risk management system. “We found FOCUS to be very user-friendly and, more importantly, of all the other systems we looked at, FOCUS offered the most cost effective way to meet our requirements.” Steve Lilly, Head of the Financial Risk Management Desk, added, “It’s important to Bank of Oklahoma to start off with the best system out there. We will demonstrate to our clients that, in BOk, they have all the services of a large money-center bank, such as access to the energy derivatives markets, but they will also retain the personal service they are used to from BOk.” Bank of Oklahoma will use the FOCUS system for its energy derivatives desk, but it also plans to use the FX and agriculture modules in the future. EGAR will have the FOCUS system live by the end of February. Ravi Jain, CEO and co-founder of EGAR Technology, said, “Today, regional banks can successfully capture a greater portion of their clients' total banking business by acquiring cutting-edge technology. Systems like EGAR Focus empower small banks to compete in areas traditionally dominated by money-center banks, like derivatives trading. EGAR offers a great solution for a medium-sized regional bank who wants to have top quality trading and risk management.” FOCUS is a fully integrated position keeping system offering pricing, reporting, and risk management supporting trading of over-the-counter and exchange-traded derivatives, swaps, FX, equities, metals, bonds, repos, and commodities.
About Bank Of Oklahoma BOK Financial Corporation is a multi-bank holding company based in Tulsa, Oklahoma. The company’s stock is publicly traded on the NASDAQ under the national market listings (symbol: BOKF). Assets of the organization are centered in four bank subsidiaries, Bank of Albuquerque, Bank of Arkansas, Bank of Oklahoma, and Bank of Texas. BOK Financial enjoys market leadership throughout the state of Oklahoma and is expanding in contiguous states. A key element to the success of BOKF is its high ratio of fee-based revenues, which account for 40% of total revenue, excluding gains from sales of securities and derivatives. This strength comes from a diverse group of products including trust, mortgage banking, an electric funds transfer network, brokerage and trading activities, and cash management services.
About EGAR Technology EGAR Technology combines excellence in technology with capital market expertise to create sophisticated trading and risk management systems and solutions. EGAR’s applications offer cutting-edge, integrated and standalone front-, middle- and back-office trading and risk management systems. Additionally, EGAR has pioneered modular software - granting firms of all sizes the efficiency of a custom-built system with the affordability of off-the-shelf products. EGAR has built a global reputation for its user-friendly systems, which increase efficiency without sacrificing complexity. EGAR has created solutions for some of the world's most important financial services firms, including ABN-AMRO, Alfa Bank, Bear Wagner, Carr Futures, CIBC, Fimat (Soc Gen) and many others. EGAR Technology, Inc. was formed in March 2000 with the acquisition and merger of Intermark Solutions, a trading and risk management system firm, and Off-Site Development, a custom application development vendor. Today, EGAR has grown to over 140 technical and financial specialists worldwide, with a presence in New York, Moscow and Philadelphia. For more information on this press release or any other EGAR Technology related news, please contact:
Lisa McErlane (+1) 212-223-3552
Carri Brown (+1) 212-223-3552 |
© 2009 EGAR Technology Inc. All rights reserved. Designed by EGAR Technology Inc. Photographs by John Sann.  |