Asia Awards 2022: Best analytics solution—Numerix

OVERVIEW

It has become increasingly apparent to many companies that running software in the cloud offers greater benefits and increased business value over building and maintaining in-house systems. The vulnerabilities and shortcomings of existing on-premises systems became even clearer during the Covid-19 pandemic as work shifted away from offices to homes. With this in mind, Numerix is leading the way among a growing number of organizations that see cloud-based, vendor-managed software as the key to success in the capital markets. At the forefront of this strategy is the firm’s flagship product, Oneview.

“Numerix’s SaaS model gives clients access to a range of capabilities that can have a tangible impact on risk management performance. It provides clients with advanced risk capabilities across all asset classes, in areas such as risk identification and analysis, stress testing and scenario analysis, XVA calculations, trade lifecycle event handling, complex derivatives pricing, and market data management, while removing the operational burden of running and maintaining the software. In short, utilizing risk analytics through our SaaS model gives organizations more functionality and superior agility.”
Satyam Kancharla, executive vice president, chief product officer, client solutions group, Numerix

THE SOLUTION

Oneview’s transformation has been more extensive than being hosted and managed in the cloud provided by its strategic partner, Amazon Web Services (AWS). Numerix totally rebuilt each component and microservice of the product’s architecture to be fully cloud-native. The updated SaaS incarnation of Oneview allows clients to access risk management tools—such as risk analytics, XVA calculations, and derivatives pricing—without the issues presented by an on-premises system and with the benefits of increased business efficiency and reduced business costs.

WHAT’S TO COME

Numerix’s cloud-native ambitions are to incorporate the latest solutions to improve system performance, scalability, and resilience as they hit the market. Continued standardization and automation efforts will be a major focus, reducing resources for operational processes and error handling workflows.

WHY THEY WON

Innovation
In addition to the established benefits gained by cloud migration, Numerix’s R&D and tech improvements have led to more innovations for indices, market data, cryptocurrencies, and energy modeling. Oneview has also enhanced its market risk module and now offers regulatory and trading functionality for XVAs. Firms will also likely appreciate the inclusion of FRTB analytics—via a partnership with ActiveViam—as well as risk-free rate (RFR) analytics to support Libor transitions. The cherry on the top is NxCore Cloud, Numerix’s quantitative development platform for building capital markets apps.

Relationships
New partnerships and new clients have been central to Oneview’s SaaS success. These include client work undertaken for OCBC Bank to develop a new managed service offering for trade capture and valuations, which enabled faster product deployment, increased scalability, and improvements to capacity. Numerix’s partner relationships have also borne fruit with its CubeLogic partnership being credited for securing several clients such as a multinational energy company, and cryptocurrency bank Seba.

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