MOUNTAIN VIEW, Calif. - Infinity Financial Technology Inc., a developer of risk management systems, said its software "tool kits" have been installed for use in First Union Corp.'s derivatives trading operations.
First Union is now using the software development tools, collectively called Montage, as the foundation for its derivatives trading system, Infinity officials said. First Union currently offers it clients hedging instruments in interest rates, foreign exchange, and commodities.
"Infinity's Montage provides immediate value, allowing trading operations like First Union's to get up and running right away," said Jim Rogers, a senior vice president with the Charlotte, N.C.-based superregional. "It will grow with us as we continue to build our derivatives business."