Numerix the leading provider of cross-asset analytics for derivatives valuations and risk management, has announced the receipt of the award for Best Innovation by an ISV Regulatory Change in the annual FOW Awards for Asia held in Singapore on September 25. This marks the second consecutive year Numerix has won this award for the Numerix CrossAsset product Suite.

Pressure from regulatory change has Institutions and Banks more aware than ever of risk related costs embedded within each trade they make. Because this cost directly impacts daily trading and business decisions, risk calculations need to be computed on a more frequent basis.

“In the past the risk management life cycle for effective decision making could take weeks, even months to complete – today it needs to be conducted intraday,” said Erdem Ozgul, SVP of South Asia Sales for Numerix. “The demand for faster risk management processes is driving demand for increased performance, as well as the integration of flexible and transparent analytics inside the risk system.”

For pre-trade analytics, CrossAsset incorporates all key risk measurements for understanding PnL including the full range of XVA trading and pricing adjustments and Market Risk measures, including an innovative VaR implementation for Initial Margin calculations. As a unified environment for Credit Risk and Market Risk management, Numerix CrossAsset can be leveraged as part of an optimized collateral management strategy where operational costs, collateral costs and liquidity costs can all be coordinated within a single enterprise environment. The real-time capabilities of CrossAsset has significantly improved the efficiency and performance of processes within multiple types of institutions, and enhanced controls for decision making.

Steven R. O’Hanlon, Chief Executive Officer & President of Numerix concludes: “In today’s market it’s necessary to assess risk embedded in the entire position, taking into account not just counterparty credit risk, but market risk, funding risk, liquidity and capital costs – and the idea being to generate a holistic price. Price is the single most important drivers of behavior within institutions, whether it’s mark-to-market or incentives. We see this as an amalgamation of the pricing and risk analytics which for a long period were two separate islands. As these areas have converged Numerix users benefit from a holistic profitability framework that provides consistent analytics for portfolios, performance for front office pre-trade analytics and accuracy for reporting.”