Cutting-Edge Convertible Bond Analytics: Kynex Live Demo
Why Attend
Learn how Kynex’s convertible analytics equip you with advanced insights to dissect complex convertible structures, capitalize on arbitrage opportunities, and manage portfolio risk more effectively.
Presenter
Joseph O’Reilly, Kynex Product Manager, Numerix
Following a record $119B in global issuance in 2024 – the highest level since the Global Financial Crisis – driven by corporate refinancing, low coupons, and a surge in Asian issuance, the convertible space is more complex and fast-moving than ever. Convertibles demand advanced modeling, low-latency Greeks, and dynamic stress testing to capitalize on structural arbitrage and nimbly manage convexity and gamma risks.
Kynex delivers an integrated, lightning-fast web platform which empowers seamless alpha capture and disciplined risk management across the trade lifecycle. Its industry-leading analytics ensure precision even in the most complex structures.
Join Joseph O’Reilly of Numerix as he provides a live demo of Kynex’s end-to-end convertible workflows – from new issuance pricing to trade execution – to showcase how Kynex helps convertible traders uncover alpha and manage risk.
Joseph’s demo will cover:
- New issuance pricing
- Detailed convertible bond analysis
- Finding opportunities
- Portfolio analysis
- Advanced risk analytics
- Trade execution
Featured Speakers
Joseph O'Reilly
Joseph O’Reilly has over 20 years of experience in the convertible bond market. He is the Product Manager for Kynex and leads the platform’s development. He led the quantitative and software engineering teams at Kynex prior to the company’s acquisition by Numerix. He started as a convertible bond analyst researching the global convertible market, maintaining market and reference data, and working closely with the quantitative team.
Joseph earned an MBA in Finance from Fordham University, and he graduated Summa Cum Laude with a BS in Business Administration (Finance) from the University of Rhode Island.
Greg Murray
Greg Murray is responsible for increasing awareness of the Numerix brand in financial markets around the globe and contributing to Numerix’s strategic growth initiatives. Previously, he oversaw product and field marketing initiatives at the company, and he started his tenure in a sales role. Prior to Numerix, Mr. Murray worked in derivative analytics sales roles at other software firms, and he held derivative trading positions for seven years as an option market-maker and proprietary trader across a variety of asset classes.
Frequently Asked Questions
What is Kynex and who developed it?
Kynex is a SaaS web-based platform for convertible bond analytics founded in 1996 and acquired by Numerix. It serves 200+ global clients across investment banks, hedge funds, asset managers, and other financial institutions with real-time analytics and trade management solutions.
How are Kynex's subscription tiers structured?
Kynex offers three subscription tiers: Core Analytics for security-by-security analysis, Portfolio Management for multi-position risk and stress testing with portfolio management system capabilities, and Trade Entry for order management system functionality including FIX connectivity and compliance features.
What types of securities does Kynex cover?
Kynex covers convertibles, bonds, CDS, ETFs, SPACs, warrants, and options. This broad coverage allows users to analyze and manage a diverse range of fixed income and equity-linked instruments across their portfolios.
How quickly can I set up the new issue pricer?
The new issue pricer in Core Analytics requires only a 5-minute setup and can handle 99% of convertible structures out of the box. This rapid deployment allows traders and analysts to quickly price new deals without extensive customization.
What advanced search capabilities does Core Analytics offer?
Core Analytics includes an advanced search function that provides access to a global universe of convertible bonds with filtering and analytical capabilities. Users can quickly identify securities matching specific criteria and access comprehensive market data and analytics.
What can I do with the hedge calculator feature?
The hedge calculator allows users to compute both full carry and net carry scenarios, as well as calculate return on capital metrics. This helps traders and portfolio managers optimize hedging strategies and understand the economic impact of their positions.
How does impact analysis in Core Analytics work?
Impact analysis enables users to run multi-factor scenarios and adjust tuner values to see how changes in market conditions or model assumptions affect security prices and risk metrics. This supports what-if analysis and stress testing at the individual security level.
What are historical snapshots and how are they used?
Historical snapshots capture pricing and analytics data at specific points in time, allowing users to track changes over days, weeks, or months. This feature supports performance attribution, backtesting, and historical analysis of portfolio behavior.
How does Portfolio Management integrate bonds and stocks?
Portfolio Management displays both bonds and stocks on the same line-by-line view, enabling users to see their complete position-level exposure and monitor risk across asset classes simultaneously. This integrated view simplifies risk management for convertible specialists.
What stress testing scenarios are available in Portfolio Management?
Portfolio Management includes pre-built stress tests for historical scenarios including 2008, 2018, bear markets, and bull markets, plus a takeout scenario to model acquisition or tender offer impacts. Users can also create custom stress tests tailored to their analysis needs.
Can I track daily carry and calendar effects in my portfolio?
Yes, Portfolio Management includes carry tracking and a calendar of events that displays upcoming coupons, conversions, and other material dates. This helps portfolio managers understand daily profit and loss drivers and plan for known future events.
What does the Trade Entry system do?
Trade Entry is an order management system that allows traders to create two-sided trading tickets, allocate trades across multiple accounts, and handle FIX connectivity with counterparties. It also provides one-click recap generation and includes delta nuking for risk-aware trade sizing.
How does the compliance and risk monitoring work in Trade Entry?
Trade Entry includes built-in risk compliance checks and detailed profit-and-loss breakouts to help traders stay within limits and understand trade economics before execution. The system enforces compliance rules and provides real-time PNL attribution.
What APIs does Kynex offer and what are they used for?
Kynex offers a portfolio risk API in XML format for systems integration, with a single-name API and historical VaR API in development. These APIs enable clients to integrate Kynex analytics into their own systems and workflows for automated analysis and reporting.
How quickly can Kynex be deployed and what support is available?
Kynex is web-based with minimal deployment that can be operational in a single day, requiring no complex infrastructure. The platform includes 24/7 terms and conditions updates, tagged indentures for compliance, and a dedicated 20+ year support team available around the clock.
