The asset - mutual funds, pension funds and portfolios - management company of 2020, today

Innovation Strategy: Benchmark review Risk limits review DoR -Dynamic optimal Risk- for: Maximizing the probability of beating the benchmark Maximizing terminal wealth (hedge funds) Information, analysis and negotiation Real time Benchmarking Real time Risk Management Risk control Performance attribution Portfolio report

Core information system – Riskco Core – Data Warehouse and application server Must beMust not be CompleteAccounting basis Flexible Designed by financials for the future –build for what’s next–

Core information system - Riskco Core -

Risk control - Riskco Management -  Valuation and fair valuation  Market, credit and liquidity risks measurement  Stress Test and simulation  Risk control EXCELLENCE

Riskco Management Core information system - Riskco Core -

Performance Attribution Firstly discerning: how much has the strategy provided and how much the tactic? Secondly determines how much was gained or lost at each decision making point? and why? EXCELLENCE

Performance Attribution Riskco Management Core information system - Riskco Core -

Portfolio Report

EXCELLENCE

Performance Attribution Riskco Management Portfolio Report Core information system - Riskco Core -

Real time Benchmarking Compares the risk (VaR/Tracking error) and the return (Nav) of the portfolio with a customized multiasset benchmark.

Performance Attribution Riskco Management Portfolio Report Real time Benckmarking Core information system - Riskco Core -

Real time Risk Management Pre-trade control of probabilistic (VaR/Tracking error) and operational risk limits in real time. It includes simulated and pending trades.

Performance Attribution Riskco Management Portfolio Report Real time Benchmarking Real time Risk Management Core information system - Riskco Core -

Information, analysis and negotiation

Performance Attribution Riskco Management Portfolio Report Real time Benchmarking Real time Risk Management Information, analysis and negotiation Core information system - Riskco Core -

EOMS

Performance Attribution Riskco Management Portfolio Report Core information system –Riskco Core - EOMS Real time Benchmarking Real time Risk Management Information, analysis and negotiation

Strategy Innovation  Benchmark review  Risk limits review DoR -Dynamic optimal Risk- Establish accurately how much to increase or decrease periodically the risk of the portfolio to: Maximizing the probability of beating the benchmark Maximizing terminal wealth (hedge funds)

Performance Attribution Riskco Management Portfolio Report Innovation Strategy: Benchmark reflection Risk limits review DoR -Dynamic optimal Risk- for: Maximizing the probability of beating the benchmark Maximizing terminal wealth (hedge funds) EOMS Core information system - Riskco Core - Real time Benchmarking Real time Risk Management Information, analysis and negotiation

SERFIEX S.A is a Financial Risk Management consultant with owned software, leader in the Spanish market. The company was created in Our clients: Treasuries and risk departments of banks and corporations, financial markets and supervisors, investment funds and retirement plans managers, hedge funds, private banking, insurers and brokers Work areas: Portfolio management Measurement, control and management of financial risks: front to back Real time risk management Mark-to-model valuation for complex and illiquid assets Measurement and control of market, credit-counterparty and liquidity risks Asset & Liability Management (ALM) Stochastic Forecasts (structural risks, budgets, ALM) Performance attribution Calculus and fulfillment of the regulatory standard of bank and insurers capital adequacy (Basel III and Solvency II) Measurement and valuation of actuarial liabilities risks Tools of financial risk management for CFO's on Corporations About us

Innovation: - Riskco Student®. The first professional software for financial risk management for students. - Riskco Portfolio web®. The best online software for portfolio management. - Dynamic optimal Risk® (DoR). DoR is a methodology to establish accurately how much to increase or decrease periodically the risk of the portfolio to maximize the final wealth. About us

Clients

About us CMA is a Brazilian headquartered technology company providing real-time electronic trading systems for the global financial community. It was founded in Sao Paulo in 1973, and operates with 10 local subsidiaries and with offices throughout the United States, Spain, Portugal, Argentina, Uruguay, Chile and Colombia. CMA provides services to clients over 35 countries with over 20,000 terminals deployed in Brazil and over 3,000 terminals abroad. We are highly specialized in developing high-tech solutions that meets the specific needs of each client with an active 24x7 remote technical customer support team. Our customers: CMA's customers include major companies in the financial, agricultural and industrial sector, providing them products and services with the best market solution to meet their cost-benefit results.

Clients Banco do Brasil