NumeriX, the award-winning, independent leader in pricing and risk analytics for fixed income, credit, foreign exchange, hybrids, cross currency, commodities, inflation rate and equity derivatives, today announced that Dr. Meng Lu, has been promoted to Senior Vice President of NumeriX's Financial Engineering Group.
The NumeriX Financial Engineering Group, all of whom are recipients of Ph.D.'s or advanced degrees in finance, is the main point of contact for all NumeriX customers, serving as a bridge between the NumeriX development and quantitative teams. This unique, customer-facing group ensures a dynamic feedback process whereby NumeriX's products are continually enhanced to meet the most demanding needs of derivative market participants.
"This is an exciting time for NumeriX, and we are pleased to expand the scope of Meng's role and responsibilities as he takes charge of the Financial Engineering Group," said Steven R. O'Hanlon, President and COO of NumeriX. "The complex derivatives market has grown enormously over the last year, which has led to a surge in demand for high-end analytics that accurately price these instruments. With Meng's oversight, the Financial Engineering Group will ensure that NumeriX remains the leader in pricing and risk analytics."
Dr. Lu's promotion to lead the Financial Engineering Group is a direct response to the requirements set forth by NumeriX's rapidly expanding customer base consisting of more than 275 end user customers and more than 40 partners. NumeriX has been growing at a rate greater than 50 percent for more than four years and expects an increase to triple digit growth in the next 18 months.
Dr. Lu, who joined NumeriX in 2000, has more than seven years of experience in the derivatives pricing industry as a financial engineer and quantitative analyst specializing in fixed income and equity derivatives at NumeriX and other financial institutions. Dr. Lu assumed management of the Financial Engineering Group last summer and is charged with ensuring the advancement of the company's product line with client-driven features and enhancements; a strategy implemented since 2004.