Some of the major innovations included in version 5.3 are:
- a comprehensive and interoperable SOA pack integrated in IBM Websphere, aimed at providing large installations with all the scalability they need to handle large volumes of transactions, instruments, third parties and portfolios. By exposing functionalities - data import/export and access to valuation/risk - as Web Services, the SOA pack increases flexibility by allowing easy data exchange with other systems, thin clients, or web portals.
-a multi-site module, allowing banks to manage global activities through multiple time zones and different business lines. This module allows organizations to define local end of day calculations and P&L analysis on local preferences while keeping a global view of risks and P&L.
-enhancements in derivatives pricing, risk management and processing, with a Heston stochastic volatility model for equity and FX derivatives which can be distributed on Sophis calculation servers or on grid computing farms, an improved, fully interconnected credit derivatives module and the physical and risk management of power and gas.
Sebastien Roussotte, Head of Strategic Marketing at Sophis, commented, "This release is very comprehensive and is the result of 12 months of close collaboration with clients and R&D effort. It should be rolled out at the first client sites by the end of 2007, and we expect it to gain wide acceptance among our clients very quickly, thanks to major modules such as the multi-site as well as its superior technology."