Source: Algorithmics
Algorithmics, the world's leading provider of risk solutions, has been issued a patent for its "Generator Libraries", the innovative building blocks that Algorithmics uses as the code base for its risk solutions.
The patent has been awarded for the Generator's innovative design and structure which allows for extensibility and consistency in Algorithmics' underlying code base. The patent recognizes the value of Algorithmics' sustainable and reusable way of building risk solutions and reflects the firm's commitment to research and innovation.
Algorithmics' clients will ultimately benefit from risk solutions that are rapidly extensible, flexible and easy to support and maintain.
The Generator Libraries now serve as the essential code base underlying a variety of analytic components within the Algorithmics' family of risk solutions. For example, the Generators form the cornerstone for both the Algorithmics' Scenario Engine (ASE) and its Portfolio Credit Risk Engine (PCRE) - two very different risk components doing very different things, but ultimately built from the same risk building blocks. By using a consistent and extensible underlying code base, Algorithmics can build robust applications very quickly with a short time to market.
Ben De Prisco, Senior Vice President of Research and Financial Engineering, said: "This patent is testament to Algorithmics' competitive advantage in building valuation and simulation libraries using a reusable and leveragable code base. By developing these Generator Libraries we have distilled our risk management calculations and algorithms down to a molecular level and this patent is for the design of those molecules. Re-using these molecules in new and innovative ways means we can develop new risk solutions faster, reducing our time to market while still ensuring the solutions perform with the utmost of speed, are customizable, and fit-for-purpose."
Michael Zerbs, President and COO, Algorithmics, added: "This latest patent is yet another example of our commitment to research and innovation in risk management technology and further extends our patent portfolio. We will continue to invest in cutting-edge research to ensure we provide risk solutions that help our clients create value."