Principia Partners delivers credit derivatives capability

Principia Partners delivers credit derivatives capability

New Jersey-based Principia Partners has upgraded its Principia System to include support for credit derivative products.

The vendor says version 4.0 of its Principia System delivers a framework to calibrate, value, manage and account for credit derivatives products.

The new release covers both simple vanilla and exotic derivative instruments, including credit default swaps, options, binary swaps and swaptions, credit-linked notes and basket credit derivatives.

In addition, Principia Partners says the introduction of credit derivatives within its existing product line improves the support for credit arbitrage vehicles such as structured investment vehicles (SIVs), hedge funds and credit trading groups.

Douglas Long, Principia Partners' European head of product management, says the solution helps resolve a number of scalability, transparency and operational risk issues facing users of credit derivatives.

"We have delivered functionality that produces accurate valuation, on a proven framework that provides integrated portfolio and risk management for assets, liabilities and derivatives," says Long.

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