Landmark Bank will use Derivative Path’s cloud-based OTC trading platform, DerivativeEDGE™, to manage trade execution, sales, operations and Dodd-Frank compliance of its interest rate derivatives activity
NEW YORK and SAN FRANCISCO and COLUMBIA, Mo., April 25, 2017 – Derivative Path, a financial technology firm offering both a state of the art derivative trading platform and last-mile trade execution support, and Sandler O’Neill + Partners, a full-service investment banking firm specializing in financial services companies, are pleased to announce through their strategic partnership that Landmark Bank has selected Derivative Path to develop client hedging capabilities.
Landmark Bank, N.A., with $2.5 billion in assets, operating in 28 communities across Missouri, Oklahoma, and Texas, is one of a number of Sandler O’Neill clients to recently engage Derivative Path to assist in establishing interest rate hedging capabilities for both commercial borrowers and balance sheet hedging activities.
“Sandler O’Neill’s partnership with Derivative Path was timely as we were contemplating ways to accommodate requests for long-term, fixed rate financing from our commercial borrowers. We were hesitant to offer our clients products with extended terms in the current rate environment but wanted to be able to meet our clients’ needs. By enlisting Derivative Path’s expertise and its cutting-edge technology platform, we’ve been able to launch a customer hedging program extremely quickly,” said Steve Guthrie, Chief Financial Officer at Landmark.
As part of its engagement, Derivative Path helped incorporate interest rate product procedures into Landmark’s credit and compliance policies to adhere to Dodd-Frank regulations, will be training its relationship managers, and provide unlimited access to its technology platform. The team will also assist the bank with all pre- and post-trade events.
“We knew Sandler O’Neill had great relationships given their status as one of the leading financial services investment banking firms, and we’ve been extremely impressed with the quality of the discussions we’ve been able to have with their clients. The partnership created between Sandler O’Neill and Derivative Path can now deliver a powerful set of advisory and technology solutions to Landmark Bank,” said Steve Hawk, Co-Founder and Co-CEO of Derivative Path.
“One of the most interesting parts of my job is traveling around the country to meet with bank management teams and finding solutions to meet their needs,” said Scott Hildenbrand, Principal and Chief Balance Sheet Strategist at Sandler O’Neill. “Through these discussions, it became apparent that our clients need assistance with all aspects of hedging – including pre-trade compliance, regulatory support, and post-trade operations support – especially for the customer back-to-back program. Our partnership with Derivative Path complements our core competencies and has allowed us to provide an expanded level of service that is unmatched.”
About Landmark Bank, National Association
Landmark Bank, National Association, founded in 1865, is a privately held company based in Columbia, Missouri. The community bank currently has over $2.5 billion in assets and operates 40 locations across Missouri, Texas and Oklahoma. The company offers commercial lending products such as commercial real estate, equipment, and small businesses loans as well as a variety of business checking accounts. Additionally, the bank provides several personal banking options which include mortgage lending, estate/retirement planning, personal savings vehicles, and Internet/electronic banking. For additional information, please visit www.landmarkbank.com
About Sandler O’Neill + Partners
Sandler O’Neill + Partners, L.P. is a full service investment banking firm dedicated to providing comprehensive, innovative advisory and transaction execution services to the financial industry. The firm specializes in strategic business planning, mergers and acquisitions, capital markets, mutual to stock conversions, investment portfolio and interest rate risk management, fixed income securities transactions, and mortgage finance restructurings. Sandler O’Neill also is a market maker in hundreds of financial stocks and publishes equity research focused on selected banks and thrifts, insurance companies, investment banks, asset managers, specialty finance companies, e-finance companies, real estate investment trusts, and financial technology companies. For additional information, please visit www.sandleroneill.com
About Derivative Path, Inc.
Derivative Path is a San Francisco Bay Area-based company that provides a technology-led solution to assist financial institutions, buy-side, and commercial end users in executing and managing their over-the-counter interest rate derivative transactions. The Derivative Path team is comprised of derivative industry veterans who have held senior positions with some of the world’s largest capital markets firms, such as Wells Fargo, ABN AMRO, Societe Generale, Bank of America, and JPMorgan Chase. The team has developed a state-of-the-art derivative trading platform, DerivativeEDGETM, which it makes available to all of its clients. The platform gives derivatives counterparties the confidence to operate a hedging program and manage their trades in compliance with all regulatory requirements, with assistance provided for all pre-trade, trade execution, and post-trade life cycle events. For more information about Derivative Path, visit www.derivativepath.com