Numerix Honored for Analytics Innovation in 2021 FinTech Breakthrough Awards Program

Numerix, the leader in risk technology, today announced that its Numerix CrossAsset platform has been selected as winner of the “Best Overall Analytics Platform” award in the fifth annual FinTech Breakthrough Awards program conducted by FinTech Breakthrough, an independent market intelligence organization that recognizes the top companies, technologies and products in the global FinTech market today.

Numerix’s CrossAsset Analytics offers the industry’s most comprehensive collection of models and methods allowing financial services institutions to price any conceivable derivatives instrument. Using the most advanced calculations, in addition to a wide range of calibration options for generating market-consistent valuations, the CrossAsset hybrid model framework provides key features for flexible multi-curve, multi-currency support, including extensive functionality to address curve construction for new alternative reference rates.

“With increasing regulatory complexities that financial institutions face, banks must shift focus to where they can monetize areas of their business including data and elements of infrastructure,” said James Johnson, Managing Director, FinTech Breakthrough. “Numerix CrossAsset provides a breakthrough analytics solution that offers a breadth and depth of model coverage for the most complex and hard to value derivatives instruments. We are thrilled to name Numerix as the winner, yet again, of our ‘ Best Overall Analytics Platform’ award.”

“As the world’s financial markets continue to confront unprecedented changes, now more than ever, financial institutions need to be prepared for a highly uncertain market environment,” said Steve O’Hanlon, CEO, Numerix. “Data and analytics have undoubtedly become the lifeblood of strategy and decision making, and our analytics solution in its many forms has emerged to address unique challenges across the capital markets. We are extremely proud to receive this industry recognition in the 2021 FinTech Breakthrough Awards program.”

Numerix recently announced the release of CrossAsset 17.0, the latest version of its pricing and risk analytics software. There are 25 new features addressing clients’ modelling, pricing, and risk management needs, as well as strategic items to help users navigate the LIBOR transition. Key highlights of the latest release include:

• Alternative reference rate (ARR) functionality to support compounded or averaged index calculation, and support for LIBOR fallback curves.
• Algorithmic Differentiation (AD) XVA Greeks for inflation asset class and enhancements to the XVA Greeks Report which now supports the Inflation Jarrow-Yildirim model.
• Added SIFMA Basis Model with stochastic modeling, also for computing SIFMA basis risk in XVA.

The FinTech Breakthrough Awards is the premier awards program founded to recognize the FinTech innovators, leaders and visionaries from around the world in a range of categories, including Digital Banking, Personal Finance, Lending, Payments, Investments, RegTech, InsurTech and many more. The 2021 FinTech Breakthrough Award program attracted more than 3,850 nominations from across the globe.

About Numerix

Numerix is the leading provider of innovative capital markets technology solutions and real-time intelligence applications for trading and risk management. Committed to out-of-the box thinking, the exploration and adoption of latest technologies, Numerix is dedicated to driving a more open, fintech oriented, digital financial services market. Built upon a 20+ year analytical foundation of deep practical knowledge, experience and IT understanding, Numerix is uniquely positioned in the financial services ecosystem to help its users reimagine operations, modernize business processes and capture profitability. For more about Numerix: www.numerix.com

About FinTech Breakthrough
Part of Tech Breakthrough, a leading market intelligence and recognition platform for technology innovation and leadership around the globe, the FinTech Breakthrough Awards program is devoted to honoring excellence in Financial Technologies and Services companies and products. The FinTech Breakthrough Awards provide public recognition for the achievements of FinTech companies and products in categories including Payments, Personal Finance, Wealth Management, Fraud Protection, Banking, Lending, RegTech, InsurTech and more. For more information visit  FinTechBreakthrough.com.