Numerix, the leading risk technology provider, has won two XCelent 2017 awards as part of Celent’s recent research, “FRTB and the Upcoming Renaissance in Market Risk Management – Evaluating Ecosystem Solutions.” Authored by Cubillas Ding and Dennis Kong, the report completes a three-part series assessing the current market and solution landscape for FRTB.
As FRTB and market risk solutions continue to evolve, Numerix has taken significant steps to enhance and launch new functionality to help financial firms operate effectively under the new upcoming regime. Numerix FRTB is designed to be a flexible component of an institution’s FRTB strategy, for business impact assessment or as a core component of a broader enterprise-wide transformation. This has put Numerix in the unique positon of spanning the Celent categories of Ecosystem Specialist and Risk System Provider.
"We are extremely pleased to have won this industry recognition from one of the most reputable research and consulting firms dedicated to information technology. Winning the awards demonstrates our ability and dedication to establishing the best approach to FRTB at a time when current regulatory uncertainty shrouds the capital markets,” said Steve O’Hanlon, CEO of Numerix. "Establishing an approach to FRTB is not a series of cohesive, chronological steps; it’s a progressive process. Numerix FRTB is designed to align with banks’ FRTB transformation at all points in the process; for early stage strategic decision making and for long term FRTB compliance.
Building upon its complex derivatives and front office origins, and moving towards solutions that deliver larger-scale firm wide risk initiatives, Numerix Oneview enterprise platform enables users to measure, aggregate, and present a unified view of risk and capital. As a SaaS, cloud based QIS solution, Numerix FRTB further supports this approach – playing a critical role in the analytical and data value chain and working as part of a broader set of applications or components.
The report indicates Numerix as demonstrating sophisticated market risk, FRTB and pricing capabilities but also as early adopters of next-generation technologies for establishing a clear architectural and product vision. The scope and depth of client service, development and implementation partnerships also helped the firm to be recognized as a category leader for service.
"More sophisticated banks are seeing FRTB as a launchpad for market risk platform renewal, in tandem with achieving their broader capital efficiency objectives. Firms are looking to employ next generation technologies into their product offerings to achieve performance enhancements and scalability," says Cubillas Ding at Celent. "As FRTB programmes progress, firms can also look to deploy business/desk optimization capabilities that are flexible, agile, and quickly implementable."