Wall Street Systems, the leading provider of global treasury, trading and settlement solutions and services, has today announced a new partnership with NumeriX, the independent leader in cross-asset derivatives pricing and valuation software.
Together the two companies will deliver NumeriX Wall Street Systems Edition, a powerful new solution, which will enable end-users to lower costs and improve productivity in a trading environment.
NumeriX has collaborated with both Wall Street Systems and Trema (recently acquired by Wall Street Systems) in the past to provide best of breed integrated solutions, so this new partnership was a logical step. NumeriX analytics will now be incorporated into Wall Street Systems' treasury product, TreasurySuite, as well as into its foreign exchange solution, Wallstreet FX. The NumeriX Wall Street Systems Edition will provide clients with a single, integrated management platform for all instruments regardless of complexity or asset class. This robust and proven pre-packaged solution for cross-asset market risk management, pricing and valuation, will enable financial institutions to accelerate integration time and mitigate costs. Furthermore, consistent risk calculations across different valuation models and asset classes will provide aggregation across all portfolios.
"The limitations of legacy systems have forced many organisations to manage complex derivatives and structured products manually, through the use of spreadsheets or relying solely on valuations provided by their counterparties," explained Steven R O'Hanlon, President and Chief Operating Officer at NumeriX. "This cumbersome approach is due to the lack of automation within the core system which often results in time to market delays when deploying new instruments. Our partnership with Wall Street Systems addresses this business challenge by enabling traders, structurers and risk managers to independently design, price and manage derivatives across single or multiple asset classes."
Larry Ng, Managing Director, Product and Marketing at Wall Street Systems, said, "This partnership will empower our clients to rapidly price complex financial products, within their current system, and provides our clients wiith further levels of functionality on a single platform."