Module delivers scalable and secure contribution platform specifically designed for derivatives and structured products
Sophis, a leading provider of cross-asset, front-to-back portfolio and risk management solutions, today announced the launch of its latest Contribution Service module. The module is designed to support stringent requirements in pricing and publishing for secondary market making and gives traders the capability to be active across a wide range of instruments such as equity and credit linked notes, convertible bonds, warrants and cross-asset structured products.
Sophis developed its Contribution Service in response to demand from clients for a module that would allow them to publish prices and sensitivities for securities and OTC products. Sophis’ Contribution Service uses sensitivities to adjust the contributed price to the real-time underlying market variations. Having access to security features in the publishing rules workflow was also identified as a key requirement.
The Contribution Service has already been implemented at a number of customers who selected it to respond to different business needs. Firstly to provide their customers with real time bid/ask quotes on their positions, allowing them to unwind positions they have bought. And secondly, to have an application that is connected directly with the relevant exchanges, which can receive real time data such as prices and Greeks sensitivities, to enable them to participate as a market maker on the secondary market.
The Contribution Service module is fully integrated with Sophis’ leading cross-asset, front-to-back trading and risk management solution – Sophis RISQUE and benefits from the same static data, market data, real-time quotation, pricing models and calculation distribution. Its complex calculation capabilities are delivered via RISQUE’s powerful pricing engine which can distribute calculations across a grid computing platform for optimum speed and performance. The module handles high volumes of real time prices thanks to a powerful and secure messaging architecture.
Samer Ballouk, head of Product Management and Business Development at Sophis said: “We are pleased to observe the success of our latest Contribution Service module, which enables traders to publish prices of cross asset products securely, within the bounds of real-time rules. This addition to the RISQUE software platform is further evidence of how we direct our research & development efforts towards the areas that are of most use to our clients.”
