Prometeia, the global leader in Risk Management consulting and software solutions, announced the release of ERMAS Equation Manager, an innovative and advanced component of ERMAS Suite, the Prometeia Enterprise Risk Management solution.
“The new development is a fundamental step in the direction of making our platform more and more flexible and ‘open’ to setup customization. This editor has been developed to create an in-built modelling environment able to manage mathematical equations and formulas defined by the user. These functions are embedded into the system parameterization and are used to model behavioral dynamics and evaluate complex financial products, among other things,” comments Massimo Pedroni, Head of International Business at Prometeia. “Our clients will find this solution to be an effective answer to their increasing need for flexibility in the parameterization of our Suite.”
Users of ERMAS will greatly benefit from this new feature, which allows them to model advanced mathematical and statistical relations instead of using the standard functions offered by the system. Users will not be required to code in one specific language to define algorithms, since the scripts will be generated through an Equation wizard based on an intuitive meta-language.
Within the Equation Manager, formulas can be built via drag-and-drop of variables and operators: the user can select parameters and functions from pre-defined lists and then link them together. The variables that can be used include all input and output information managed by ERMAS engines, which can be interlinked to create an open library of satellite models, pricing functions and other custom parameters.
The system supports the following equations:
The first modules which benefit from this new framework are:
ERMAS, the new generation of value-centric risk solutions, is used by over 200 clients in more than 20 countries to support their critical decisions and to comply with local and international regulatory requirements.
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