Piper Jaffray Deploys Imagine Software for Portfolio and Risk Management

4 August 2008

Imagine Software, a leading provider of on-demand, real-time portfolio and risk management solutions worldwide, today announced the successful rollout of its Internet-based Derivatives.com product with respected international middle market investment bank and institutional securities firm Piper Jaffray.

Piper Jaffray recently extended its New York broker-dealer operations with the addition of an options trading desk, and Derivatives.com was deployed from the outset to support the company’s first foray into derivatives. According to managing director and head trader Greg Hurley, the desk provides liquidity in equity listed options for the firm’s institutional investor clientele in addition to its own proprietary trading book.

According to Hurley, the options desk derives highly tangible benefits from Imagine’s unique combination of portfolio and risk functionality. “Imagine’s real-time capabilities are especially useful in today’s market conditions,” Hurley notes. “We’re particularly interested in monitoring volatility. So throughout the day, as we manage our derivatives and stock risks and examine residual exposures, we’re always watching the real-time greeks. Imagine allows us to easily spot the effects of volatility—because it’s constantly reflected in the real-time P&L displays we see.”

The ability to quickly add or modify portfolio view configurations without the need for programming expertise has been put to good use at Piper Jaffray, enabling the firm to easily introduce highly customized calculations—like a special gamma-theta volatility display column used for book-level evaluations of implied volatility. “We’re still in the process of learning how to take maximum advantage of Imagine’s full extent of features and capabilities,” Hurley says. “This is a very robust system. We’re quite happy with it and plan to expand our usage in the future.”

“Imagine has proved to be an excellent fit for Piper Jaffray, and we feel privileged in being able to assist them with their day-to-day operational needs,” says Yvonne Dahl, Director of Sales and Marketing at Imagine. “We look forward to supporting them as their requirements expand.”

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