NumeriX, the leading player in multi-platform, cross-asset derivatives pricing and risk management software, today announced a partnership with Brilliance Software Corporation, a global provider and integrator of pricing and risk management systems for financial products.
Under the deal NumeriX's analytics will be integrated with Brilliance's pricing and risk management platform DealPoint.
The alliance follows strong market demand with particular interest in the pricing and risk management of credit products. As a result, end users now have access to integrated trade capture, pricing, risk and portfolio management capabilities including Value-At-Risk analysis (VAR).
With speed to market becoming an ever more important benchmark, traders are now able to price trades and structure new deals independently and faster than ever before.
Using the same integrated platform, risk and portfolio managers can now mark-to-market their portfolio's, measure the risk and stress test the portfolio, use sophisticated OLAP tools to effectively analyze and actively manage the portfolio while meeting regulatory compliance requirements.
The flexible and powerful nature of both the platform and the analytics allows virtually any financial product across all asset classes to be supported without modification or the need for software programmers. With the DealPoint Structuring Workbench authorized end users or analysts can now rapidly define new financial products or modify the system, including the user interface, workflow and analytics integration.
Christopher Grant, CEO at Brilliance, said, "In fast moving financial markets it is essential that traders, risk and portfolio managers have a software platform which enables them to structure and price new products quickly and easily, while meeting regulatory compliance requirements and maintaining the controls and disciplines of a robust platform. With NumeriX analytics we can now structure new deals in minutes rather than days or weeks. We believe that there is no other product available with the degree of flexibility and capability offered by the DealPoint platform powered by NumeriX."
"More and more we are seeing the need for independent, flexible analytics that can be implemented across multiple asset classes," said Steven R. O'Hanlon, President and Chief Operating Officer at NumeriX. "In this instance we added pricing and sensitivities to DealPoint's risk and front office capabilities making the solution even more powerful. This partnership has created a compelling solution that builds on Brilliance's existing methodology of providing scalable enterprise solutions for banks and financial services organizations."