Dr. Alexander Lipton, Managing Director and Co-Head of the Global Quantitative Group at BofA Merrill Lynch, joins the Numerix Quantitative Advisory Board

New York, NY - November 10, 2011 – Numerix (www.numerix.com), the leading provider of cross-asset analytics for derivatives valuations and risk management, today announced that Dr. Alexander Lipton, Managing Director and Co-Head of the Global Quantitative Group at BofA Merrill Lynch and Visiting Professor of Mathematics at Imperial College London, has joined the Numerix Quantitative Advisory Board, established to further the standardization and advancement of pricing and risk for the OTC derivatives market.

Previously, Dr. Lipton was a Managing Director and Head of Capital Structure Quantitative Research at Citadel Investment Group in Chicago; he has also worked at Credit Suisse, Deutsche Bank and Bankers Trust. Prior to these roles, Dr. Lipton was a Full Professor of Mathematics at the University of Illinois at Chicago and a Consultant at Los Alamos National Laboratory. He received his undergraduate and graduate degrees from Lomonosov Moscow State University. His current interests include: industrial-strength pricing of large derivative portfolios with an emphasis on credit value adjustment, as well as technical trading strategies.

In 2000, Dr. Lipton was awarded the first “Quant of the Year” Award by Risk Magazine. Dr. Lipton is the author of two books (“Magnetohydrodynamics and Spectral Theory” and “Mathematical Methods for Foreign Exchange”) and the co-editor of four more including, most recently, “The Oxford Handbook of Credit Derivatives”. Dr. Lipton has published numerous research papers on hydrodynamics, magnetohydrodynamics, astrophysics, and financial engineering. He has given dozens of invited lectures at leading universities and major conferences worldwide. Dr. Lipton was one of the inventors of the Lewis-Lipton formula for pricing options on assets with stochastic volatility. He built a standard local-stochastic volatility model which is widely used for pricing vanilla and exotic forex derivatives.

“I would personally like to welcome Dr. Lipton to the Numerix Advisory Board,” said Steven R. O'Hanlon, President and COO at Numerix. “It is an honor and distinction to have someone of Dr. Lipton’s outstanding merit join the Advisory Board.”

“Dr. Lipton has been commended for his thorough approach to the FX markets and financial engineering in general, and we are honored to welcome him to the Advisory Board,” said Dr. Serguei Issakov, Senior Vice President of Quantitative Research & Development at Numerix. “His particular interest in industrial-strength derivatives pricing will contribute a tremendous value to our own research,” said Dr. Issakov.

“It is a privilege to be selected as a member of the Advisory Board,” said Dr. Lipton, who became the fourth member to be appointed to the Numerix Quantitative Advisory Board. The Advisory Board creates an industry leadership forum comprised of the “top professional minds” from quantitative research across the academic and financial services industry at large. The Advisory Board aims to promote professional interaction between renowned academics, researchers and Numerix.

Numerix provides the industry’s most sophisticated cross-asset pricing platform for traders, quants and risk managers of derivatives and structured products. Numerix allows users to structure complex derivatives using a proprietary scripting language and price them using a wide range of model and calibration options.

About Numerix

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. Numerix offers clients a highly flexible and fully transparent framework for the pricing and risk analysis of any type of OTC derivative financial instrument. From vanillas and "semi-exotics" to bespoke derivatives, structured products and variable annuities, Numerix allows users to calculate prices and manage risk using any data set.

Since its inception in 1996, over 700 clients and 50 partners across more than 25 countries have come to rely on Numerix analytics for speed and accuracy in valuing and managing the most sophisticated financial instruments. With offices in Australia, Beijing, Chicago, Dubai, Hong Kong, India, London, New York, Paris, Singapore, South Korea and Tokyo, Numerix brings together unparalleled expertise across all asset classes and engineering disciplines. For more information, please visit www.numerix.com.

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