Razor Risk to Leverage Numerix Risk and Pricing Model Library for Enterprise-wide Risk Management
Numerix (www.numerix.com), 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 Basel 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 Richard Simon, 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.”
