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.
CONTACT:
Jason
Finkelstein
VP, Investor
Relations
Seven Stars Cloud Group,
Inc.
212-206-1216
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SOURCE Seven Stars Cloud Group, Inc.