New York- November 24, 2009- Numerix (www.numerix.com), the leading independent service provider of award winning cross-asset analytics for the structuring, pricing and risk evaluation of derivatives and structured products, today announced that Credit Magazine has recognized the Numerix Credit Trader workbook application with a Credit Technology Innovation Award for 2009.
The Innovation Awards recognize key developments in technology over the past year in the credit sector, particularly in response to the challenges in risk management, pricing and valuation. The awards single out individual companies that provide the most unique and pioneering solutions to help financial organizations navigate the credit markets.
Numerix Credit Trader is a new extension to the Numerix CrossAsset platform. It features a series of customized spreadsheets for viewing and testing trades and monitoring market data and risk metrics. Front-office professionals can then track, manage and analyze a book of trades, monitor relevant market data and accurately value complex credit derivatives.
“The Credit Technology Innovation Award recognition is not only a testament to Numerix and our development team, but also a strategic validation of our trader workbook offerings that bring the power and flexibility of the Numerix CrossAsset platform to the front office. We have built an application that is more flexible because it’s focused on traders’ needs and takes into consideration their work flow requirements. With Credit Trader users can confidently bring complex trades to the market,” said Steven R. O’Hanlon, President and Chief Operating Officer at Numerix.
Numerix, headquartered in New York, won a joint Credit Technology Innovation Award last year 2008 for its structured credit desktop, NxR2, which was created with technology vendor R2 Financial Technologies. The 2009 Numerix Credit Technology Innovation Award win is a follow up to Numerix being named Technology Company of the Year in Asia for the second straight year in May of 2009 and also Technology Company of year in the America’s for the third straight year by Structured Products Magazine. The Credit Innovation win 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.
