Principia launches ABS/MBS capability

Principia launches ABS/MBS capability

US-based front-to-back office systems provider Principia Partners has launched version 3.0 of the Principia Analytic System (PAS) which includes functionality for trading asset backed and mortgage backed securities.

Version 3.0 offers the ABS/MBS market a unified pricing and analytical solution that allows deal capture information to flow seamlessly from the front office through to the back-office for full reporting and sub-ledger processing - eliminating the compatibility and reconciliation issues that arise when multiple systems are required as part of a solution, the company claims.

The new version supports the addition of the Intex Solutions database and subroutine libraries containing over 10,000 modeled ABS/MBS securities, and captures prepayment risk through the incorporation of the Andrew Davidson & Co. prepayment models.

According to Brian Donnally, one of Principia's founding partners, a global proliferation of asset-backed commercial paper programmes over the last few years has created a growing demand for a unified solution to handle all elements of ABS/MBS investments. "The work we have completed on 3.0 is unique, and it brings modeling capabilities to a level we believe is not available for the ABS/MBS market today," he claims.

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