Partnership will strengthen Polaris’ Intellect ® Risk and Treasury product With Numerix Risk Analytics for Basel Regulatory Compliance

Chennai (India)/ New York (USA)/ London (UK), February 12, 2013 - Polaris Financial Technology Ltd (POLS.BO), a leader in products, solutions and services that enable unprecedented operational productivity for the global Financial Services industry, today signed a definitive agreement with US based Numerix, a leading provider of cross-asset analytics for derivatives valuations and risk management. Leveraging Numerix’s newly introduced analytics calculation engine, CrossAsset Server and CrossAsset Integration Layer for the integration, this partnership will provide clients with Numerix risk analytics for improved risk monitoring, increased transparency and decision making.

Polaris’ Intellect® Risk and Treasury has more than 40 customers across 80 countries, which will now be able to comply with Basel regulatory requirements, such as consistent pricing, stress testing and accurate reporting of Credit Valuation Adjustment for robust Counterparty Credit Risk management, by leveraging Numerix’s comprehensive model library and risk analytics embedded as part of the solution. In addition, Polaris will support banks to integrate Numerix models into their end-to-end pricing and risk management solutions.

Speaking on the occasion, Mr. Manish Maakan, Partner & Global Head - Intellect Business, Polaris Financial Technology Limited said, “Regulatory pressure and changing business needs demand that banks, both buy side and sell side, be able to access trading and risk management information across assets with reliable risk models. Banks therefore need customizable solutions to comply with regulatory Basel requirements. We now empower banks to seamlessly comply with regulatory and Basel compliance at a competitive price point with Polaris’ Treasury/Risk IP and Numerix’s risk analytics.”

Steven R. O’Hanlon, Chief Executive Officer & President, Numerix said, “Numerix has a proven track record of providing users with market leading risk management and pricing analytics software to structure and value any conceivable type of financial instrument — from vanillas to the most complex deals. We needed a partner with scale and reach who can provide access to various global markets and we are excited about the opportunity to partner with a global financial technology leader like Polaris.”

As the global leader in cross-asset analytics for vanillas through to the most exotic Over-the-Counter (OTC) and structured products, Numerix provides support for pre trade pricing, structuring, trade capture, valuation, market risk (all Value at Risk measures) and counterparty risk calculations including Credit Valuation Adjustment (CVA), Debit Valuation Adjustment (DVA), Potential Future Exposure (PFE) and Funding Value Adjustment (FVA).

Numerix provides comprehensive coverage for all major asset classes, including fixed income, inflation, credit, equity, foreign exchange and commodity instruments, as well as hybrids. With a flexible and transparent framework and the industry’s most sophisticated library of pricing and risk models at its core, the Numerix analytics platform is the market standard for cross-asset analytics. Many of the top trading and risk platforms used by today's financial institutions and corporate treasuries have embedded the Numerix model library and pricing architecture inside their systems. This offers a consistent pricing framework that spans a wide range of standard technology platforms, fostering transparency throughout the derivatives market.

About Numerix
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.

About Polaris Financial Technology Ltd
Polaris Financial Technology Ltd (formerly known as Polaris Software Lab Ltd) (POLS.BO) is a leader in Products, Solutions and Services that enable unprecedented operational productivity for the global Financial Services industry with its comprehensive portfolio of products and services. Polaris has a talent strength of over 13,000 solution architects, domain and technology experts. The company owns the largest set of Intellectual Properties for a comprehensive product suite, IntellectTM Global Universal Banking (GUB) M180. IntellectTM is the first pure play Service Oriented Architecture (SOA) based application suite for Retail, Corporate, Investment banking and Insurance.

Headquartered in Chennai, Polaris has offices in all global financial hubs, including Bangalore, Belfast, Chennai, Chicago, Dhaka, Dublin, Dubai, Frankfurt, Hong Kong, Ho Chi Minh City, Hyderabad, Kuala Lumpur, Lisle, London, Madrid, Manila, Melbourne, Mississauga, Mumbai, Nairobi , Neuchatel, New Delhi, New York (New Jersey), Paris, Pittsburgh, Pune, Riyadh, Santiago, San Francisco, Seoul, Shanghai, Singapore, St. Germain En Laye, Sydney, Thane, Tokyo, Toronto, Victoria and Wicklow. For more information, please visit http://www.polarisFT.com/

For Media related info, please contact:
Minal Sahani        
Polaris Financial Technology Ltd
Mob: +91 91766 26468
Email: minal.sahani@polarisFT.com

Emily Ahearn
Numerix
Office: 646-898-1294
Email: eahearn@numerix.com    

For Investor related info, please contact:
G. Sunanthy Devi
Polaris Financial Technology Ltd
Mob: +91 8939933564
Email: sunanthy.g@polarisFT.com

Need Assistance?

Want More From Numerix? Subscribe to our mailing list to stay current on what we're doing and thinking

Want More from Numerix?

Subscribe to our mailing list to stay current on what we're doing and thinking at Numerix

Subscribe Today!