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RiskVal Partners with NumeriX to Extend the Scope of its Derivatives Trading and Risk Management

Tuesday, June 24, 2008 8:05 AM

Offers Credit and Fixed-Income Investors New Analytic Solutions for Independent Pricing and Enhanced Valuation for Complex Transactions; RiskVal to Leverage NumeriX Cross- Asset Analytics.

NumeriX, the independent leader of analytics for structured products and derivatives, and RiskVal, a leading provider of fully integrated credit and fixed-income trading and risk management systems, have announced a strategic partnership whereby RiskVal has integrated NumeriX enhanced market standard analytics to enhance the breadth of its trading and risk management solutions, providing users the ability to manage derivative products across all asset classes.

RiskVal will offer NumeriX's suite of industry standard models, which have been enhanced to ensure greater speed and pricing accuracy. NumeriX analytics suite covers fixed income, credit, foreign exchange, hybrids, cross currency, inflation rateandequity derivatives.

In addition to NumeriX's full suite of cross analytic solutions, fixed-income and credit users will also have access to NumeriX's revolutionary dynamic credit model, a two-dimensional Markovian model introduced last year, which is the most sophisticated tool for the valuation of complex CDOs. The dynamic credit model incorporates the market risk related to the volatile spread movements that typically occur even in the absence of defaults. Users will also have access to NumeriX's new pricing tools for LCDS and LCDX. Given the volatility of the market, this feature is critical in modeling and evaluating sophisticated credit products.

"The key challenge is that many in-house systems cannot adapt to the constant trading fluctuations within complex markets," said Steven R. O'Hanlon, President and COO of NumeriX. "As economic conditions make certain security types more attractive across market verticals, traders need the flexibility to pursue profitable strategies across all markets. When the deals are done, they need to be booked and managed throughout many levels of an organization. One thing is for certain, the market doesn't wait for upgrades, builds and software patches."

While today's announcement is focused on the firm's collaboration to offer a commercially available integrated solution, the firms have also worked together on a bespoke project for one of the world's leading investment banks. Together, NumeriX and RiskVal improved the business functionality of the institution's proprietary trading desk by developing a flexible and easy-to-use credit system, with deep modeling capabilities.


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