Numerix Presses GreenButton for Cloud Pricing Capacity
Derivatives pricing and risk analytics software vendor Numerix has expanded its on-demand capacity capabilities via an agreement with New Zealand-based cloud computing provider GreenButton, which enables clients of Numerix's CrossAsset XL spreadsheet pricing platform to offload compute-intensive pricing calculations to their choice of cloud provider using GreenButton's interface, and to perform otherwise-lengthy calculations within the reporting timeframes specified by regulators if sufficient internal compute capacity is not available.
"Though budgets for IT infrastructure continue to shrink on both the buy and sell side, the pressure to arrive at the right answer faster from a trading and risk perspective has only increased," says Steve O'Hanlon, president and chief operating officer of Numerix, which recently enabled clients of its Portfolio valuation tool to access virtual hardware resources in Microsoft's Azure cloud (IMD, May 21).
"Clients can literally burst to the cloud with the push of a button, creating a huge competitive advantage. Small and mid-tier firms... can now compete on a level playing field with larger firms as they can readily access the compute power needed to produce more timely and granular analysis of their portfolios," says GreenButton chief executive Scott Houston.
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