Numerix, TMX Group Team on Risk Solution

The companies say that this is in response to new regulatory demands for advanced risk functionality, due to mandates stemming from proposed directives like Solvency II and Basel III.

"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," says Steven O'Hanlon, chief executive officer and 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."

Richard Simon, vice president of TMX Technology Solutions, says that since firms require the ability to manage multiple risks across all asset classes, firms are demanding a single application to manage market, credit and liquidity risk.

"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," Simon says. "With Numerix's library of cross-asset valuation and risk models, Razor can extend its core functionality to meet broader front office needs."