NEW YORK, Oct. 19, 2017 /PRNewswire/ -- Seven Stars Cloud Group, Inc. (NASDAQ: SSC) ("SSC" or the "Company"), today announced an agreement to establish a Joint Venture ("JV"), BBD Digital Finance Group ("BBDFG"), with management partners Tiger Sports Media Limited and Seasail Ventures Limited, ("Seasail") an affiliate of parent company BBD (https://en.bbdservice.com/introduction). The BBDFG JV will focus on leveraging the BBD brand with artificial intelligence-driven financial data services as well as transactional platforms for index, futures and derivative trading, for both global commodity and energy clients.
BBD is Asia's leading provider of Artificial Intelligence-based big data solutions dedicated to optimizing the efficiency and effectiveness of industrial-level decision-making and risk management, by standardizing data services. BBD is often described as the "Palantir of Asia" by many industry experts. By leveraging BBD's/Seasail's technology, BBDFG will look to capitalize on commodity and energy provider's needs for more precise risk management services, more informed operational planning and more strategic decision-making, specifically as they all relate to the trading of index, futures and commodities.
Dr. George Yuan will become both Chief Risk Officer and Chief Engineer of BBDFG. With prior risk management experience at Deloitte China, KPMG LLP (USA) and TXU Energy Trading (Dallas, TX), as well as holding a professorship at the Institute of Risk Management at Tongji University, Dr Yuan's study and work has centered around the valuation of Financial Derivatives and Value-at-Risk (VaR) Modeling for Market Risk, Credit Risk and Operational Risk under the framework of Basel II (Basel III) Accord, Financial and Credit Derivatives Pricing, Portfolio Optimization, Risk Limit Design, Commodity Forward Price Curve Design, Complex Position, Commodity Price Risk Assessment and Asset Valuation.
About Seven Stars Cloud Group, Inc. (http://corporate.sevenstarscloud.com/)
Seven Stars Cloud Group, Inc. (NASDAQ: SSC) is aiming to be a leading Intelligent Industrial Internet (3I) platform, creating a artificial intelligent & fintech-powered, supply chain solution for commercial enterprises. There are 2 Engines that drive our business platform: 1. VPaaS + TPaaS - Supply Chain Management for key industry sectors and leaders including but not limited to Big Commodities, Cross-Border Trade, Consumer Electronics & Energy; 2. Digital Finance Solutions - Supply Chain Finance underwritten by our Global Cornerstone Funds and ABS, Tokenization and Exchange Platforms, which include FINRA and SEC-regulated: Index Exchanges, Initial Coin Offering / Tokenization, ETFs and Derivatives. Both Engines and their various arms will run on 'BASE' technology and infrastructure (Blockchain, Artificial Intelligence, Supply Chain & Exchanges) to power a closed trade ecosystem for buyers and sellers designed to eliminate transactional middlemen and create a more direct and margin-expanding path for principals.
Safe Harbor Statement
This press release contains certain statements that may include "forward looking statements." All statements other than statements of historical fact included herein are "forward-looking statements." These forward looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
VP, Investor Relations
Seven Stars Cloud Group, Inc.
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SOURCE Seven Stars Cloud Group, Inc.