Derivatives pricing software provider NumeriX yesterday announced a strategic partnership with ClusterSeven, a developer of enterprise spreadsheet management and control software.
The combined technologies give customers the capability to quickly and accurately price and execute financial products without leaving Excel, the trader’s preferred technology tool.
As a result of this partnership, ClusterSeven customers will gain access to NumeriX analytics through NumeriX for Excel, a series of add-in templates.
Currently, structurers model financial products through software developed in-house; the models are then exported to Excel for pricing and execution. Although Excel is a user-friendly interface for traders, the process creates the risk of lost data and latency in trade execution. The combined ClusterSeven/NumeriX technology aims to eliminate this risk while accelerating the time-to-market by building underlying analytics right into the Excel interface.
“Speed is essential to maximising profits on new financial products,” says Ralph Baxter, director of marketing and strategy at ClusterSeven. “The integration of NumeriX’s analytics with ClusterSeven’s management software will provide traders with the technology to find accurate prices and bring new products to the market faster, all within Excel.”
Built-in analytics inject speed and accuracy into pricing for the exotics and other complex products that deliver competitive advantage for financial services institutions,” adds Steven R. O’Hanlon, president & COO, NumeriX. “By combining our analytics expertise with the trader’s tool of choice via ClusterSeven technology, we are helping traders mitigate risk when executing complex transactions from the back office all the way to the market,” he continues