New York- December 3, 2008- NumeriX, the leading independent provider of advanced analytics for the derivative and structured products markets, and R2 Financial Technologies, a pioneering firm providing business solutions for pricing and risk profiling structured credit portfolios, today announced that Credit Magazine recognized the NxR2 Structured Credit Desktop with a Credit Technology Innovation Award in its inaugural year. The Innovation Awards singled out individual companies that provide the most unique and pioneering solutions to help financial organizations navigate the credit markets.
According to the Credit Magazine editors, the NxR2 Structured Credit Desktop was recognized for its ability to value, profile and manage risk on credit derivatives and structured credit products. The underlying analytics, powered by the NumeriX 7 libraries, enable full coverage of the complete spectrum of cash and synthetic instruments. As a result, users can mitigate the risk associated with the lack of knowledge and transparency in the market when valuing and structuring credit products.
“This recognition with the Credit Technology Innovation Award is a testament not only to NumeriX, but also to R2 Financial Technologies, an important partner of ours and market leader. We have jointly built an application that enables users to confidently bring complex trades to the market,” said Steven R. O’Hanlon, President and Chief Operating Officer at NumeriX. “Last year’s credit crunch is still affecting the markets and users must have the tools to successfully maneuver the current volatility and lack of liquidity.”
In addition to highlighting the comprehensive analytics, the Credit Magazine editors also commended NxR2’s integration of multiple internal and external sources for market and credit data and structured cash-flows. The integration of Bloomberg and Markit’s pricing data coupled with Intex’s deal model libraries and cash-flow generation functionality enables NxR2 to deliver the most comprehensive and transparent valuation and risk analytics solution. This integrated solution provides effective tools for users to manage their credit portfolios more effectively, reduce risk and find investment opportunities which maximize profits.
“Considering the lack of transparency and significant amount of risk in the current credit markets, investors and traders need access to effective real-time analytics, based on solid credit data and detailed modeling capabilities to get a complete picture of their portfolios and the opportunities available in the market” said Dan Rosen, CEO of R2. “NxR2 is the result of NumeriX’ and R2’s joint vision to provide an integrated solution which packages the most advanced credit analytics with detailed credit data, scenario capabilities, productivity and reporting tools, in order to perform reliable valuations, and understand the key underlying risks and concentrations in structured credit portfolios and strategies.”
For more information about NxR2 Structured Credit Desktop, please visit www.numerix.com/credit.
NumeriX is the award-winning, independent leader in pricing and risk analytics for fixed income, credit, foreign exchange, hybrids, cross currency, commodities, inflation rate and equity derivatives. NumeriX has a financial engineering and quantitative team composed largely of PhDs on the same scale as the very largest of financial institutions. More than 275 clients across 25 countries rely on NumeriX for speed and accuracy in valuing their structured products and derivatives. Trading and risk platform vendors leverage NumeriX analytics to gain a time-to-market advantage by embedding the power of NumeriX into their systems. Founded in 1996, the company is privately held and has offices in New York, Chicago, Santa Fe, Toronto, London, Paris, Singapore and, Tokyo. For more information visit www.numerix.com or type NUMX
R2 is the next-generation provider of business solutions for pricing and risk profiling structured credit portfolios. Founded in 2006, and incubated at the prestigious Fields Institute in Toronto, R2 provides actionable, content-driven valuation, risk and capital management solutions, which effectively integrate advanced quantitative methodologies, financial technology and data. We create business value for our clients by delivering superior analytical capabilities presented in a simple, practical and intuitive way. Our senior management team has a combined 50-year experience designing, delivering and implementing financial technology solutions, which are used at most of the top institutions around the world.