New York, London, Tokyo, April 11, 2007 – NumeriX, the independent leader in cross-asset derivatives pricing and valuation software, has partnered with IT&e, a leading provider of technology solutions to the financial services industry. NumeriX analytics have been integrated into Razor, IT&e’s award-winning risk management product, to provide additional support for pricing exotic derivatives in an Enterprise Risk Management environment.
“The partnership follows an increasing demand from institutional banks for more exotic products,” said Steven R. O’Hanlon, President and Chief Operating Officer. “Adding NumeriX analytics to Razor will offer institutional investors a more complete solution when managing market and credit risk.”
The partnership enables IT&e to reduce Razor implementation effort for any exotic products that were not previously supported. Prior to the partnership, any product gaps were addressed by the client implementing in-house pricing models via Razor’s C++ API.
As a result existing clients will now be able to broaden their product coverage and take advantage of the booming credit market. In addition, banks will also have the ability to create any new complex instruments within days due to the shortened development and testing time, thus improving their market position.
IT&e CEO, James Maranis, said, “With a staff of over 40 Ph.D. researchers with expertise in numerical algorithm research and scientific computing, partnering with NumeriX will provide Razor customers with access to industry leading derivatives analytics via this enhanced product offering. The unparalleled instrument and model coverage of the NumeriX analytics toolkit, and the speed and power of Razor, represent a very compelling combination for our clients.”
