NEW YORK--(www.numerix.com), the leading provider of cross-asset analytics for derivatives valuations and risk management, today announced it was named Technology Innovation Provider of the Year for Asia by Structured Products Magazine. Numerix also made an impressive showing in this year’s Asia Risk Technology Rankings, placing 9th overall in the incredibly competitive field, and 3rd overall in the Derivatives Pricing & Risk Analytics category.)--Numerix (
“Driven by the need among clients for sophisticated valuation and risk management analytical tools and hands on education around industry best practices, Numerix increased its business development and local sales presence on the ground – a strategic decision that’s absolutely paid off”
Numerix continued to build on its leadership position in the region by bringing to market new and innovative technology solutions to meet the specific needs of structured products clients across the Asia-Pacific market, both through independent solutions and Numerix’s partnership network. Numerix also expanded its presence in the region with the addition of 21 new clients and the opening of two new offices in Mumbai and Taipei. Numerix now has a physical presence in eight Asian countries, while the proportion of company revenues generated in Asia has grown from 5% to 32% over the past six years.
According to Structured Products’ editors, Numerix’s acknowledgement for Technology Innovation was in large part due to its ability to anticipate shifts in the market. Post-2008, Numerix saw that there would be a flight to more standardized products and answered the need with a consistent platform for vanillas as well as exotic products. Numerix also supported the most demanding of new regulatory requirements, the need to calculate complex risk measures such as credit valuation adjustment (CVA), debt valuation adjustment (DVA) and funding valuation adjustment (FVA).
“Driven by the need among clients for sophisticated valuation and risk management analytical tools and hands on education around industry best practices, Numerix increased its business development and local sales presence on the ground – a strategic decision that’s absolutely paid off,” said Steven R. O’Hanlon, President and Chief Operating Officer at Numerix. “As the biggest emerging market for financial products analytics software, we’re committed to providing the Asian market with the tools they need for consistent structuring, pricing and risk managing any derivative, across all products.”
In the tight race to top this year’s Asia Risk Rankings, Numerix continued to build on last year’s position. In addition to notable placements in the overall categories in the individual categories for Derivatives Pricing & Risk Analytics, Numerix ranked 3rd for equities, 4th for interest rates, 5th for credit and 3rd for hybrids. Among the recent product developments noted by editors that helped Numerix climb the list are its two-factor spread model, especially active in the Korean spread option market. Also, Numerix adapted its software to run on external cloud-based resources where required. A significant achievement as IT infrastructures struggle to meet the computational demands of complex pricing and risk calculations.
Mr. O’Hanlon continues: “First and foremost we have our clients and partners throughout the region to thank. To rank in 9th position overall with the largest financial software companies is a huge accomplishment and is a testament to Asian sales team efforts and those making a difference by supporting each initiative including our global marketing team, client solutions and financial engineering groups. I’m incredibly proud of our achievement in this year’s rankings and look forward to accelerating our technology and extending our product coverage over the next year further helping clients to better manage the complexities of real-time trading and risk analytics.”
The award for Technology Innovation, which was announced in the September issue of Structured Products Magazine, was presented to Numerix at the Structured Product Asia Award Ceremony on September 13th at The Renaissance Hong Kong Harbour View Hotel. Numerix President and Chief Operating Officer, Steven R. O’Hanlon, accepted the award on Numerix’s behalf.
The full list of Structured Products Asia Award winners can be found here:
The complete results of the Asia Risk Technology Rankings are also online:
Numerix is the award winning, leading independent analytics institution providing cross-asset solutions for structuring, pre-trade price discovery, trade capture, valuation and portfolio management of derivatives and structured products. Since its inception in 1996, over 700 clients and 75 partners across more than 25 countries have come to rely on Numerix analytics for speed and accuracy in valuing and managing the most sophisticated financial instruments. With offices in New York, London, Paris, Frankfurt, Milan, Stockholm, Tokyo, Hong Kong, Singapore, Dubai, South Korea, India and Australia, Numerix brings together unparalleled expertise across all asset classes and engineering disciplines. For more information please visit www.numerix.com.