With this license, FNX will offer an Advanced Derivatives Module (Sierra ADM) providing its clients full deal capture, sophisticated analytics, back office processing and accounting. With the integration of the FNX and Suite products, the Sierra product will offer pre-execution pricing and hedging as well as counterparty credit exposure analysis, sophisticated risk management, curve generation and scenario analysis tools on a wide variety of financial products. With over forty derivatives types supported ranging from swaptions and multi- leg swaps to the more sophisticated products like Sticky and Chooser/Survivor Cap/Floor/Collars.
The functionality will be integrated to two of FNXâs flagship products, Sierra and Sierra Treasury. The availability of this module will further expand Sierraâs already extensive product coverage.
Farid Naib, FNXâs CEO and founder commented: âWe are pleased to have signed this agreement with Suite LLC. Suite is a very well positioned and respected company in the derivatives analytics arena. Integrating their products into Sierra and Sierra Treasury will allow FNX to bring additional services and functionality to current and future clients. â.
Gerard Galluscio, Suite LLCâs co-founder and managing partner added, âFNXâs and Suiteâs products complement each other. FNX is a long time player in the market and FNXâs Sierra products have re-defined the concept of STP processing. Suite has developed a product that can satisfy the pricing needs of the most sophisticated derivatives operations in the market. The combination will allow FNX to offer its current leading STP technology to the advanced derivative market. I am confident that the expertise we both bring to the table will open great opportunities for our companiesâ.