Partnership Improves Standardization and Efficiency for OTC Structured Products Pricing Enabling Real-time Response to Quote Requests
Numerix, the leading provider of cross-asset analytics for derivatives valuations and risk management, and CameronTec Group, the global standard in financial messaging infrastructure and tools for the Capital Markets industry, today announce the details of a new partnership agreement. Through the partnership the Numerix CrossAsset pricing and risk calculation engine is seamlessly integrated with CameronTec FIX technology providing FIX Enablement to support the valuation of sophisticated derivatives products and advanced risk metrics.
Selected by Structured Products Magazine as APAC’s most innovative technology of the year, CameronTec Catalys FIX Protocol Enabler works with Numerix CrossAsset analytics as a FIX HUB for Quote Request from customers. When a Quote Request is received, the Numerix engine translates the message, and utilizing its advanced model architecture systematically builds complex multifactor models to price the product in fractions of a second. The front-office trader is then provided with the price as it’s converted into the Quote FIX message, and returned back to the client. This innovative process has helped drive business opportunity, enabling the client to respond to four times the amount of quotes.
As a real-time enterprise analytics platform, Numerix CrossAsset provides global, desk and portfolio-level pricing, risk aggregation, revaluation, simulation and optimization. The Numerix analytics engine provides an open architecture for easy integration, the flexibility of customization, and a scalable design for handling large volumes of complex trade and market data. Powering this flexible analytics platform is the industry’s most comprehensive model library.
“This partnership has enabled us to enhance CrossAsset functionalities with a highly adaptive and totally integrated FIX environment, helping us to further address the cross-functional needs of regional and global banks,” said Steven R. O’Hanlon, Chief Executive Officer and President of Numerix. “In the first deployment of this solution the transparent model and pricing architecture of Numerix CrossAsset is being utilized in conjunction with CameronTec FIX technology to satisfy the real-time demands of the face paced, front-office trading environment. Built on its enterprise server technology for future scalability, dynamic model building across this institution’s entire system is now achievable in less than 10 seconds. I look forward to our close collaboration with CameronTec and continued success as they join our global partnership program.”
“Through our integration with Numerix CrossAsset, we’ve extended client facing connectivity based on our industry standard protocol even further, establishing automated and standardized client connections – underpinned by Numerix’s powerful platform for integrated risk and pricing analytics,” said Anders Henriksson, CameronTec’s Chief Executive Officer. “As a result of our partnership we have not only introduced technology to optimize an otherwise inefficient process, but have expanded the applicability of our product to solve evolving business needs. We’re proud of our work together and look forward to addressing even greater segments of the market.”
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