JUNE 2018

ICA has been part of the JB Lemoyne delegation with President Macron joining the delegation ahead of the G7

ICA is honoured to have been part of the delegation of JB Lemoyne (French Foreign Affairs secretary of State) ... read more

MAY 2018
"One week, one tech" on hello Finance: this week ICA is on!
Interview de Stéphane Rio, CEO & Founder de ICA

Yanling Xi - Hello, welcome to today's One Week One Tech, presented by Périclès Group, together with Finance Innovation. Today we are with Stéphane Rio (CEO & Co-Founder of ICA), in order to present to you the company ICA. Stéphane, could you introduce to us quickly about your company?

Stéphane Rio - ICA is a capital market Fintech. Our clients are primarily investment banks. We are working in the space of pricing and calculating risks, initially for portfolios of derivative transactions. It’s a lot of calculations! Regulations have massively changed the environment over the last 10 years. The products are becoming ... read more

JUNE 2018

Wrong Way Risk paper by ICA’s head quant Jean-Michel Fayolle

This paper outlines a simple technique that allows to incorporate

the effects of correlations between market data and defaults when calculating

members of the xVA family, thereby enabling the ”measure”

in an efficient way of what is known as Wrong Way Risk (WWR). read more


ICA win the "Label Finance Innovation" in the fintech category

Backing of the Worldwide Competitivity Cluster FINANCE INNOVATION.
“This recognition validates both the innovative and strategic nature of a project and has the goal of driving access to FINANCE INNOVATION's circle of industrial, commercial and potential financial partners”
more details


Laureate of Concours Innovation Numérique

Competition for most innovative companies in digital innovation.
Laureate in category Fintech.
“Concours d’Innovation Numérique” is sponsored by the French state to support the best innovative projects in digital transformation. Its ambition is to accelerate the developments of projects based on digital technologies by sponsoring a significant part of the project. more details

JULY 2018

ICA has been selected by Bpifrance & Business France to join the French Tech Tour America 2018

Bpi France & Business France select ICA with 11 French Techs to join the French Tech Tour America
2018 in New-York & San Francisco dedicated to the most innovative and relevant projects ready to expand into the US market.
Read the article written by L'Usine Digitale

JULY 2018

Stephane Rio, CEO and founder of The Independent Calculation Agent (ICA) giving insight on how new technologies can radically change approaches to xVA and other pricing and risk calculations, in collaboration with Risk magazine

Download the article and the Q&A from here

Technology at the service of XVA or ‘XVA as a service’?


Let us outline for you our successful bank-finTech cooperation: together we built a modern xVA platform based on big data technologies!
Read the Capital Market Innovation Summit Q&A answered by Jérôme Maetz from Santander and Stéphane Rio from ICA:

  • Why do you believe that CIBs (corporate & investment banks) need to innovate to remain relevant in today's financial value chain?
  • What technologies do you believe will be most influential the transformation of CIBs in the near future?
  • What are the key elements holding CIBs back from implementing new technologies and operational initiatives?
  • Why are you involved in CMIS 2018 and what is your message to the industry?

We also made available an excerpt of the presentation given by Santander and ICA on 27/09/18 at Capital Market Innocation Summmit in London. Please register with us for the full presentation.

Santander and ICA presented at the Capital Markets Innovation Summit in London their bank-fintech and innovation story.


The Independent Calculation Agent
112 Avenue Kleber
75116 Paris - France
+33 1 53 65 35 95



ICA is a capital market FinTech providing new generation derivatives xVA and risk management systems powered by bigdata, cloud computing and Artificial Intelligence.
We adjust our solution to our clients' needs and specifics.