Vancouver, BC, Canada, December 21, 2005 – FINCAD released version 9 of their financial analytics software, which contains significant improvements and enhancements to their credit, interest rate and curve building offerings.
According to Mike Green, VP of Sales and Marketing at FINCAD, the addition of more than 250 new financial functions reflects the continued rapid pace of financial product innovation in the market. "Financial professionals are looking to FINCAD not only to provide them with new instrument valuation coverage, but also to provide new and improved valuation models, calibration methods and enhanced curve building techniques."
Improvements to FINCAD’s version 9 credit derivative analytics make it easier to value synthetic credit default swaps (CDS), collateralized debt obligations (CDO), and multi-tranche CDOs. The growth in the use of traded CDS indexes such as I-Traxx® and CDX® has also been reflected in the new FINCAD analytical tools for these products.
For users of interest rate derivatives, FINCAD offers new analytics and tools for handling new innovative swap products such as callable capped floater swaps, callable inverse floater swaps and callable range accrual swaps. Mirko Vanous, Product Manager at FINCAD states, "We’ve added new tools for exotic interest rate derivatives, beefed up the calibration and implementation techniques for our LIBOR market model and introduced an enhanced curve bootstrapping methodology. With the addition of our quadratic forwards and improved linear forward rates, financial professionals can fine-tune their instrument pricing for both vanilla and more exotic instruments."