Pricing Partners offers a source code version of its cutting edge valuation platform

Paris - 15 April 2009

Pricing Partners announced the official launch of a source code solution for its innovative software ‘Price-it®’. Entitled ‘Price-it® Source Code’, this new solution provides access to the flagship Price-it® analytics and pricing models source code. It also supplies a development platform. This enables clients to speed up the creation and development of their own pricing library by leveraging and re-using the Price-it® development framework and source code. This reduces considerably the time and project risk of building a quantitative library. Clients start with a very large existing base of pricing models and analytics.

Price-it® is a pricing and risk management solution that can price derivatives virtually on all major assets classes. This is achieved thanks to a generic scripting payoff language. The library is also based on a-new-generation plug and play architecture with cutting edge pricing models. This solution is used directly or indirectly by major clients like Societe Generale, BNP Paribas, Fortis Insurance, Commerzbank, or Mazars Auditor.

Eric Benhamou, CEO of Pricing Partners and a former quant of Goldman Sachs and Natixis comment; “In Price-it® Source code, clients have access to the source code of key parts in the pricing chain, (namely, the pricing models, the numerical methods, the calibration engine and the analytics). Hence, they are insured of a total flexibility and transparency for the future evolution of their pricing library and analytics.”

And Eric Benhamou to add: “In the field of financial software providers, Price-it® Source Code is a unique solution. Indeed, it is very exceptional that a software editor distributes a commercial solution with the corresponding source code. It is Pricing Partners philosophy to provide our clients a total flexibility and help their becoming experts with our software solutions.”

Price-it® Source Code contains a very large part of the Pricing Partners solution source code with approximately ninety percent of the total code. It is a C++ library with approximately 1200 classes and 600 000 lines of code, with API interfaces for standard Dll, Excel Xll, Com Dlls, Java JNI, XML, Misys Summit and Lexifi softwares. It comes with a suite of testing environment and an auto-generation tool to rapidly export functions.

Price-it® Source Code has a large coverage in terms of financial derivatives as it concerns credit, commodity, equity, foreign exchange (FX), inflation, life insurance, fixed income, interest rates and hybrids. It concentrates experience and knowledge of experts from the quantitative world, who were previously working in top investment banks like Goldman Sachs, Societe Generale or Natixis. Hence, it enables clients to rapidly gain access to similar solutions as the ones of these investment banks.

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