New York – October 6, 2009 – Numerix, the leading independent provider of cross-asset analytics for the structuring, valuation and risk analysis of derivatives and structured products, has been recognized by Structured Products Magazine for leading Technology Innovation in Asia 2009. This is the second consecutive year that Numerix has been recognized by the magazine for technology innovation for the Asian market.
According to the magazine editors, Numerix’s ability to adapt to the financial crisis brought about by the collapse of Lehman Brothers has set it apart from its competitors. “While innovation in the types of structured products that have come to market may have waned, investors still have complex deals on their books and the need for independent valuation and risk management tools has never been greater,” says Steven R. O’Hanlon, president and chief operating officer at Numerix. “As institutions are looking to move beyond the economic crisis, there is now significant focus on the investment and creation of unified firm-wide risk platforms, with independent and consistent valuation analytics being the cornerstone of their development.”
The Structure Products article mentions how Numerix has been quick to react to recent market challenges by providing a range of innovative solutions covering counterparty risk, compliance and value-at-risk along with new developments in modeling and valuation services. The article also covers Numerix’s relationship with a major Japanese financial institution who is utilizing the Numerix Portfolio solution to offer full cross-asset valuation services for its clients.
"We are honored to have won this award," said O'Hanlon. "The fact that we have maintained our standing and recognition in the region for the second consecutive year is testament to Numerix’s continued success delivering the industry's most sophisticated analytics and solutions for pricing, management and valuation."
The award was presented to Numerix at the fourth annual Structured Products Asia conference at the Island Shangri-la Hotel, Hong Kong on October 5th and comes on the heels of Numerix being named Technology Company of the Year in Europe for 2008 and Technology Company of year in the America’s for the third straight year by Structured Products Magazine in May 2009. This most recent award follows the May 2009 Celent Report which identified Numerix as the leader among its peers- providing advanced technology and functionality for pricing derivatives products, breath of cross asset coverage and depth of client services.
