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Polaris FT and Numerix team up

12 February 2013  |  1322 views  |  0 Source: Polaris Financial Technology

Polaris Financial Technology Ltd (POLS.BO), a leader in products, solutions and services that enable unprecedented operational productivity for the global Financial Services industry, today signed a definitive agreement with US based Numerix, a leading provider of cross-asset analytics for derivatives valuations and risk management.

Leveraging Numerix's newly introduced analytics calculation engine, CrossAsset Server and CrossAsset Integration Layer for the integration, this partnership will provide clients with Numerix risk analytics for improved risk monitoring, increased transparency and decision making.

Polaris' Intellect Risk and Treasury has more than 40 customers across 80 countries, which will now be able to comply with Basel regulatory requirements, such as consistent pricing, stress testing and accurate reporting of Credit Valuation Adjustment for robust Counterparty Credit Risk management, by leveraging Numerix's comprehensive model library and risk analytics embedded as part of the solution. In addition, Polaris will support banks to integrate Numerix models into their end-to-end pricing and risk management solutions.

Speaking on the occasion, Mr. Manish Maakan, Partner & Global Head - Intellect Business, Polaris Financial Technology Limited said, "Regulatory pressure and changing business needs demand that banks, both buy side and sell side, be able to access trading and risk management information across assets with reliable risk models. Banks therefore need customizable solutions to comply with regulatory Basel requirements. We now empower banks to seamlessly comply with regulatory and Basel compliance at a competitive price point with Polaris' Treasury/Risk IP and Numerix's risk analytics."

Steven R. O'Hanlon, Chief Executive Officer & President, Numerix said, "Numerix has a proven track record of providing users with market leading risk management and pricing analytics software to structure and value any conceivable type of financial instrument — from vanillas to the most complex deals. We needed a partner with scale and reach who can provide access to various global markets and we are excited about the opportunity to partner with a global financial technology leader like Polaris."

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