Numerix's LiquidAsset to Cover Municipal Derivatives
Numerix says VRDO was at particular issue during the 2008 crisis when issuers, hedging with the products, suffered large losses as spreads widened substantially between floating Sifma-backed rates and Libor because of market volatility. Understanding the extent of those losses became more difficult as accurate valuations were difficult to find as liquidity in the muni market shrank.
The solution will be provided on the firm's CrossAsset analytics platform, and can be implemented for advisors using Excel or integrated into proprietary systems through LiquidAsset SDK, Numerix's software development kit.
"Clients now have the broad muni coverage and sophisticated functionality needed to price their muni portfolios in totality. Advisors are better equipped to document and explain the various risks tied to muni derivatives, and muni issuers can provide internal stakeholders with a holistic view of risk for better contingency planning and liquidity management," says Steven O'Hanlon, president and COO at Numerix.
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