New York, NY – February 2, 2016
The past year has brought exciting change to Numerix with the continued evolution of the Numerix CrossAsset product suite into a dynamic single source, cross-asset enterprise platform for real-time XVA pricing, market risk and counterparty credit risk. Being named this year’s Market Risk Sell Side Product of Year, Numerix Oneview pushes the boundaries of what risk management software is capable of.
The Introduction of Oneview: Numerix’s Next Generation Pricing and Risk Application
“Rebranding the platform to Oneview speaks to the platform in terms of front office pre-trade pricing and XVA adjustments, the underlying CCR calculations and market risk elements being done holistically within a single risk framework,” said Steven R. O’Hanlon, Chief Executive Officer & President of Numerix. “Oneview has also evolved in terms of scalability for large calculations for both pricing and counterparty credit risk, as well as performance and customizability. Enhancements extend to how market data is managed around the entire platform, how aggregation services are performed and the web based front end where Oneview can be accessed from any device.”
With the consolidation of XVA pricing adjustments into pre trade prices including capital costs (KVA) and margin (MVA), and bilateral margin requirements becoming more crystalized, as well as the newly revised framework for market risk capital requirements – there are a lot of data requirements that are common across the pricing XVA space and market risk FRTB space. As the market calls for greater consistency between trading and risk operations over the past several months Numerix observed a natural progression of these elements and responded to client needs where its platform would need support all of these elements in a consistent, unified way.
Founded around highly efficient Monte Carlo simulations based on proprietary and highly efficient algorithms, the speed of Numerix’s Monte Carlo simulations remains a key differentiator – and core to its exposure calculations, counterparty credit risk calculations as well as its ability conduct real-time pricing and risk for pre-trade decision support. Oneview utilizes the infinite computing elasticity and capacity of the cloud, an in-memory cube for dynamic aggregation/slice & dice/drill down of huge multi-dimensional datasets, and best-of-breed pricing models and numerical methods to provide instant response times for complex risk and optimization calculations.
In terms of customization, the ability to meet business requirements for bespoke custom workflows was essential. Today, as clients utilize different modules of the platform around pre-determined use cases for their institutions an application layer allows components to be easily built on to the platform.
“In today’s market, financial institutions including many of our clients are looking at risk differently. Risk calculations are being driven by regulations impact on profitability of the derivatives business, thus the ability to conduct capital efficient trading decisions,” said Satyam Kancharla, Senior Vice President and Chief Strategy Officer. “This capital markets transformation has front office and risk teams converging and becoming more risk aware. High costs and process inefficiencies associated with siloed business lines can no longer be afforded. With a unified view of risk across an institution sell side institutions now have the real-time market risk measures, insight into trade-level profitability and counterparty exposures needed to make informed risk, profitability, collateral and capital allocation decisions.”
Numerix proudly accepted this award during the 2016 award ceremony held on January 27th at The Brewery, London. The Risk Awards are the longest-running awards of their kind and are widely recognized as the most prestigious.
Numerix is the award winning, leading independent analytics institution providing cross-asset solutions for structuring, pre-trade price discovery, trade capture, valuation and portfolio management of derivatives and structured products. Since its inception in 1996, over 700 clients and 90 partners across more than 26 countries have come to rely on Numerix analytics for speed and accuracy in valuing and managing the most sophisticated financial instruments. With offices in New York, Boston, Chicago, San Francisco, Sao Paulo, Vancouver, London, Paris, Milan, Helsinki, Frankfurt, Dubai, Beijing, Mumbai, Hong Kong, Seoul, Singapore, Sydney, Tokyo and Taipei, Numerix brings together unparalleled expertise across all asset classes and engineering disciplines. For more information please visit www.numerix.com.
Vice President of Public Relations
Phone 646 898 1294
Mobile 646 373 9654