Source: FINCAD
FINCAD, the industry standard for financial analytics, has released Version 11 of its analytic software with significant enhancements to both coverage and functionality.
This eagerly anticipated release is one of the biggest in FINCAD history. Version 11 addresses the need for new and more accurate means to independently value and assess the risk of financial securities and derivatives. Derivatives users will experience superior pricing and risk measurement capabilities, new valuation models, and faster calculations.
Derivative users will immediately benefit from the following:
Analytics
Flexibility that allows the pricing of any bond using a single function New swap and bond portfolio functions that aggregate cash flows and risk statisticsEnhanced risk analysis with a single function call that outputs multiple spread curvesAbility to easily price various target redemption notes (TARN)Calibration of interest rate models using a differential evolution algorithm for more accurate resultsStochastic volatility (Heston model) for pricing options and volatility derivatives
Usability
Enhanced user interface for developers programming using Visual Studio 2005 to reduce development timeNew sensitivity analysis tools that help perform scenario analysis on demandNew and improved workbook solutions, including a new key rate risk workbook
Jack McKeown, Director of Product Management at FINCAD, believes that "FINCAD Version 11 makes it easy to value derivatives from plain vanilla instruments to the exotics. Our clients demand deep coverage and accuracy, and this release demonstrates our commitment to provide derivative users the ability to keep pace with financial innovation. We have made it tremendously easy for our clients by adding new productivity-enhancing features, such as new workbooks and Visual Studio integration."
Version 11 analytics are available through toolkit products, FINCAD XL, a Microsoft Excel add-in, and through FINCAD Developer, a Software Development Kit (SDK). FINCAD Developer allows financial system developers to embed FINCAD analytics within their software applications to enhance time-to-market, lower technology risks and increase transparency. Version 11 of FINCAD Developer includes integration with Visual Studio to improve productivity and save valuable development time.