Numerix, a provider of cross-asset analytics for derivatives valuations and risk management, has opened a regional sales office in Sydney, Australia.

The new Sydney office increases the total number of Numerix Asia Pacific offices to seven.

The office will be managed by Jack Drewe, regional sales director, who is responsible for the Australian and New Zealand regions. Drewe will report directly to Erdem Ozgul, vice president, Numerix Asia south sales operation.

“We are pleased to now be in a position to provide permanent local support for our Australian clients,” says Numerix president and chief operating officer Steven R. O’Hanlon. “Given the established and dynamic nature of the derivatives markets across the region, having local sales support for our Australian clientele is critical as we assist institutions in developing the best practices necessary in this market. I am confident in our firm’s continued ability to grow and package our products targeting such strategic areas as risk, insurance/ variable annuities, commodity derivatives and to making sure that we continue to meet the overall pricing and risk management needs of our clients across the region.”