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SimCorp wins Vendor of the Year award for XpressInstruments

SimCorp has been named ‘Vendor of the Year’ by Operations Management – a U.S. trade publication focusing on the financial operations industry – at its seventh annual ‘Awards for Excellence’ ceremony in New York City.

SimCorp was nominated specifically for XpressInstruments, a new module that it recently incorporated into its investment management system, SimCorp Dimension.

XpressInstruments addresses well-recognised operational risks that currently exist with the growing use of structured products and exotic instruments, which typically are managed on external spreadsheets or on a home-grown/in-house developed system. These lack transparency and require a considerable amount of manual input to manage lifecycle events and to view exposure within a broader portfolio – significantly increasing exposure to operational risk.

Organisations already using SimCorp Dimension can use XpressInstruments to model structured products and exotic instruments within a matter of days or weeks, instead of months or even years. New instruments can be added at any time, with the support of SimCorp. These specialised products are managed in the system in the same way as standard exchange-traded and OTC products and the organisation has complete real-time coverage of all its holdings as well as profit and loss calculations.
The award citation notes that “While investment managers still must react to new strategies, the reaction time is lessened and the time to market is much shorter.”

Commenting on the award, Torben Munch, executive vice president, market director at SimCorp stated: “This is a testament to the hard work and dedication of SimCorp personnel worldwide. While the company was specifically nominated for the innovative XpressInstruments module, it was truly the history of innovation and dedication to its customers that helped SimCorp win this coveted award.”