Razor Risk to Leverage Numerix Risk and Pricing Model Library for Enterprise-wide Risk Management
June 25, 2013
/CNW/ - Numerix (
), the leading provider of cross-asset analytics for derivatives valuations and risk management, and TMX Group's technology business, TMX Technology Solutions today announced a collaborative partner agreement. TMX Group's Razor Risk technology, a fully integrated Enterprise Risk management product, will leverage Numerix's comprehensive library of industry standard, market tested risk and pricing models within its solutions for Credit Risk, Market Risk and Economic Capital management. Together, Razor Risk with Numerix analytics will provide additional support to clients with highly complex derivatives, and enable accurate risk management across the enterprise.
Global financial regulations continue to drive demand for advanced risk functionality - mandating significant requirements under
and Solvency II for aggregate risk analysis, Credit Value Adjustment (CVA) calculation, collateral and Economic Capital management as well as PFMI and LSOC requirements. Transparent, accurate models and sophisticated methodologies with full breadth of function, combined with superior performance are necessary to stay competitive, profitable and maintain international regulatory best practice principles. Numerix and Razor Risk see a valuable market opportunity to work with variety of stakeholders within a single firm, providing a holistic solution for Enterprise Risk management.
Achieving a Holistic Viewpoint of Risk
"Financial institutions continue to face challenges as the pace of risk management continues to accelerate. In today's market, clearing houses, stock exchanges, brokerages and banks must comply with evolving regulatory requirements while learning to manage shifting market conditions globally," said
Steven R. O'Hanlon
, Chief Executive Officer & President of Numerix. "We're excited to work with Razor to provide sophisticated risk modeling and advanced analytics along with its functionality for economic and regulatory capital requirements, real-time Credit and Market risk information and a firm-wide assessment of risk."
"With the proliferation of risk and regulatory change, firms require the ability to manage
multiple-risks across asset classes. The market now demands an integrated analysis of Market, Credit and Liquidity Risk within a single application," said
, Vice President of TMX Technology Solutions. "Through this partnership, Razor's best-practice risk management solution is further enhanced by Numerix analytics and model strength - delivering a more agile solution to customers with faster implementation. With Numerix's library of cross-asset valuation and risk models, Razor can extend its core functionality to meet broader front office needs. We look forward to executing on our partnership as we seek to solve the industry's most complex risk challenges."
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
, Numerix brings together unparalleled expertise across all asset classes and engineering disciplines. For more information please visit
About TMX Group
TMX Group's key subsidiaries operate cash and derivative markets and clearinghouses for multiple asset classes including equities, fixed income and energy. Toronto Stock Exchange, TSX Venture Exchange, TMX Select, Alpha Group, The Canadian Depository for Securities,
Exchange, Canadian Derivatives Clearing Corporation, Natural Gas Exchange, BOX Options Exchange, Shorcan, Shorcan Energy Brokers, Equicom, Razor Risk and other TMX Group companies provide listing markets, trading markets, clearing facilities, depository services, data products and other services to the global financial community. TMX Group is headquartered in
and operates offices across
), in key U.S. markets (
) as well as in
. For more information about TMX Group, visit our website at
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SOURCE TMX Group Inc.