Numerix , a leading provider of cross-asset analytics for derivatives valuations and risk management has announced a partnership with GreenButton to provide Numerix clients with, secure, on-demand access to cloud computing resources.
With Numerix CrossAsset XL, a flexible Microsoft Excel-based platform for pricing derivatives or structured products, clients can offload their compute-intensive calculations to any cloud provider including Microsoft Windows Azure through GreenButton’s intuitive interface. End users can now immediately leverage cost effective cloud resources to respond to market dynamics and regulatory pressures with consistent and more timely analytics.
Regulatory pressures and business requirements demand that both buy-side and sell-side firms generate faster, more frequent and accurate pricing and risk analysis. At the same time, firms need to assess trading and risk management decisions from a consistent, enterprise-wide, cross-asset point of view. Together these factors combine to necessitate a myriad of increasingly complex and compute intensive pricing and risk calculations. Thus many firms, particularly hedge funds, asset managers and insurance companies, are now in need of customizable cloud-based solutions to meet their unique business requirements and demand for more compute power.
“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,” said Steve O’Hanlon, president and COO of Numerix. “Numerix made a strategic business decision several years ago to lead the industry in its evolution towards cloud-based solutions by delivering flexible offerings that enable our clients to confidently tap the power of private, public and hybrid clouds such as Windows HPC and Azure. Our partnership with GreenButton is an ideal complement to our cloud enablement strategy. It combines our best-of-breed analytics with the most innovative, easy to use on-ramp to the cloud, ultimately lowering total cost of ownership (TCO), boosting productivity and empowering more granular analysis for our clients. ”