Case Study: Glitnir Bank achieves accurate derivative valuations with Numerix

Glitnir Bank - Customer Case Study

Glitnir Bank, an Icelandic bank in winding-up, needed accurate valuations for its derivatives portfolio so it could settle creditor claims and distributions fairly after bankruptcy. To meet this challenge, it turned to **NumeriX** and its **Numerix Valuation Services** / **CrossAsset Excel** tools to independently value thousands of trades across hundreds of counterparties.

**NumeriX** valued more than 3,500 trades from over 300 counterparties using multiple models, scenarios, and market data sources to resolve discrepancies and support fair-market-value determinations. The work produced transparent Excel-based outputs and robust calculations that Glitnir Bank relied on to support settlements and even potential mediation or court proceedings, with the bank praising the flexibility and reliability of NumeriX throughout the project.

Glitnir Bank

Hreggviður Ingason

Derivatives Expert