Avea, Turkey’s fastest growing mobile telecom operator, has selected SuperDerivatives (SD), the derivatives benchmark, to support its ability to strengthen and expand its capacity to trade interest rate derivatives and to hedge foreign currency exposures.
Avea has deployed SD’s interest rates and FX solutions, SD-IR and SD-FX, to provide accurate pricing and a range of tools to enhance its derivatives business, as well as to manage and report such derivatives. Utilising SD’s multi- and cross-asset capabilities, Avea will be able to obtain the combined FX and interest rates risk reports and analysis.
Avea, founded in 2004, is the sole GSM 1800 mobile operator of Turkey and has a nationwide customer base of over 12 million. Offering services to 95.3% of Turkey’s population through its next generation network, the company is growing fast both in corporate and individual services and constantly investing in technology and infrastructure, as well as in its management and 2,475 employees.
Having roaming agreements with 516 operators in 189 countries, the company continues to expand its roaming partnerships.
SD will give the Avea treasury and corporate finance teams access to accurate, real-time market prices, tools enabling risk and position management, and revaluation and compliance solutions. SD’s wide coverage spans all FX and interest rates derivatives, from vanillas to the most advanced structures, across the full spectrum of currency pairs and single stocks, major indices and emerging markets stocks.
SD is considered the world’s independent benchmark for pricing and managing FX and interest rates derivatives. It is used by many of the world’s largest corporations, as well most of the banks in the world that trade derivatives and numerous hedge funds, brokers, auditors and central banks.
The unique platform provides wide, multi-asset coverage, enhancing the productivity of the organisation’s entire derivatives business and inspiring user confidence by generating transparency.
Ran Agassi, senior sales executive, SD, comments: "As one of the largest mobile operators in Turkey, Avea needed a comprehensive view of the factors that affect its capacity to do business.
“SD’s combination of vanilla and advanced derivatives price discovery, award-winning market data, sophisticated analytics, and an intuitive user-friendly interface will give Avea the power to more effectively manage risk and maximise business opportunities.”
Evren Tavlan Kutlu, corporate finance manager, Avea, comments: “We have reviewed the different services in the market, as we needed a solution that would allow us to determine the real market price of FX and interest rates derivatives and support the workflow throughout the lifecycle of deal, therefore improving our ability to hedge risk.
“We preferred SD for its ability to give us the fair market value of these assets in real-time or historically as well as its ability to provide sensitivity analysis when needed.
“In addition, SD’s Software as a Service approach uses a unique, intelligent open architecture which has dramatically reduced the total costs of our derivatives activity and increase the speed of implementation.”
