Sybase (NYSE: SY), an industry leader in delivering enterprise and mobile software, and Siag Risk Management (Siag), a specialist technology leader in investment portfolio risk management solution's and functional and technical risk management consultancy, today announced a technology partnership to provide financial institutions with real time, on demand and intra-day visibility of investment portfolio risk.
Under this new partnership, enterprises and institutions will have access to advanced performance, risk management technology solutions.
"As we developed our range of advanced risk management solutions, we recognised the market need for calculating risk in major investment portfolios on an intra-day and on demand basis, using up-to-date, validated and certified data," said David Bristow, International Development Director, Siag. "We chose to partner with Sybase to complement our technology with the most advanced data management systems to provide access to accurate data precisely when it is needed, allowing asset managers to make timely and well informed decisions; reducing risk and maximising investment performance."
Bristow continued, "A key barrier to enabling leading financial institutions to increase their competitive edge presents a technological challenge. By partnering, Siag and Sybase are able to redefine these limitations and revolutionise risk analytic and data management systems."
The partnership will combine Siag's Global Risk Solutions, developed from Siag's advanced scalable grid enabled calculation engines, with Sybase RAP - The Trading EditionTM and Sybase CEP, a complex event processing (CEP) technology for performing analytics on high speed streaming data. The partnership will initially focus on 'Bypass Circuit,' a combination of Sybase's ultra-fast data management technology with Siag's advanced high volume data processing calculation engines. This solution will extract data from established core legacy systems and deliver intraday and on demand risk analysis for the entire asset portfolio including Historic, Parametric and Monte Carlo Value at Risk (VaR) and Value at Earnings (VaE) with P&L Vectors, complete with back testing and stress testing to full portfolio revaluation. It will eliminate overnight batch computation processes that produce a VaR report only once daily and based on T-1 end of day mamarket prices.
Stuart Grant, Business Development Manager, Sybase said, "Core legacy systems often restrict risk management analytics. Both Siag and Sybase products offer a cost-effective solution, implemented quickly and along-side the existing IT solution. Where timeliness, accuracy and control is key, putting a dedicated risk management process that makes use of the existing infrastructure sits better with organisations."
Grant continued, "Siag has the performance within its engines to use data effectively to provide accurate risk and position measurements for intraday use. Enterprises will have intra-day risk management reporting with the speed and performance required to meet business objectives and regulatory requirements while maintaining a competitive edge."
This technology partnership also extends to Sybase® IQ and Siag's new GRS-Price Manager, an advanced market price data management solution for the unified capture, normalisation, validation, certification and distribution of market prices with fully compliant audit trail and unobservable variable calculation functionality. Using Sybase IQ, Siag's R&D team have proven that data transfer times are significantly faster compared with standard relational databases; helping to reduce the bottleneck of mass volume data transfer, loading and downloading times. GRS-Price Manager is available from 2010 and Sybase IQ is the recommended and approved database management system.
Siag and Sybase will continue to work together to identify other technology fusions to offer Tier 1 + 2 investment managers advanced real time, on demand and intraday risk management solutions minimising risk and maximising portfolio performance.