- Quantifi receives one of the most prestigious global risk management technology awards with accolades for OIS discounting, CVA/DVA, ease of implementation and customer satisfaction
London and New York (23rd January 2012) - Quantifi, a leading provider of analytics, trading and risk management solutions to the global OTC markets, today announced that Quantifi has achieved one of the industry’s highest accolades having won ‘Risk Management Technology Product of the Year’ in Risk Magazine’s 2012 Risk Awards.
The Risk Management Technology Product of the Year award recognises excellence and innovation of technology firms in the fast-changing risk management and OTC derivatives businesses. It identifies firms leading the market with innovative solutions and best-in-class service. The awards were judged by Risk Magazine’s editorial team who performed lengthy due diligence, taking into account the views of industry users. In response to client feedback, Risk Magazine recognised Quantifi’s first-to-market support for OIS discounting, CVA and DVA, speed of implementation, scalability and exceptional client support as key factors.
The award-winning Quantifi Risk is a trading and risk management system for OTC products. It provides next-generation valuation, trade processing, risk management and interactive reporting. Easy-to-install and intuitive to use, Quantifi Risk provides an open, scalable system that automates the day-to-day valuation and risk management process. Based on Quantifi’s market leading models, Quantifi Risk delivers timely, accurate and comprehensive results.
“We are delighted that Quantifi Risk continues to receive a high level of industry recognition. This award means a great deal to us, especially considering our size compared to other firms operating in our space,” comments Rohan Douglas, CEO of Quantifi. “With a significant commitment to research and development, combined with close collaboration with our clients, Quantifi consistently leads the industry with innovative solutions. Winning this award from one of the premier publications in risk management is testimony to this on-going commitment.”
“After using the software for the better part of a year, I can confirm their analytics are superb
and our risk system runs fluidly each night – just like it is supposed to.”
Shawn Stoval, Co-Founder, Varden Pacific
Jan-Alexander Posth, Head of Fund Derivatives, LBBW, comments, “We required a technology framework that would provide consistent valuations for our portfolio of credit products and in this specialised area Quantifi was the only supplier that could meet our requirements. We licensed Quantifi Risk in 2008 and have since extended our use of Quantifi across other business lines and to risk management. Quantifi Risk was quickly installed on our front desk, though full integration with back-office systems and the addition of a high-performance computing grid took some months longer. The most important benefits the technology has brought are accuracy of results, speed of calculation and an intuitive interface.”
According to Risk Magazine (Risk, January 10, 2012):Quantifi was among the first technology suppliers to support OIS discounting, credit value adjustment (CVA) – and the latter’s more controversial twin, debit value adjustment (DVA). Founded in 2002, Quantifi cemented its reputation for accurate pricing with its initial credit pricing library in 2006, and has maintained the quality while branching out across other asset classes such as interest rates and foreign exchange. Its technology is relatively light and slots into a bank’s infrastructure quickly. Quantifi clients praise the company’s balance of business and technological expertise. While a number of banks have implemented Quantifi Risk on an enterprise level, it also offers a cost-effective option for individual business units or smaller institutions.
“After using the software for the better part of a year, I can confirm their analytics are superb. And our risk system runs fluidly each night – just like it is supposed to,” says Varden Pacific co-founder, Shawn Stoval. Varden Pacific, a hedge fund start up needed an advanced, flexible and intuitive solution that would match those used at large banks and could be implemented in a short timeframe. Having chosen Quantifi the implementation took just 18 hours over three days. Shawn describes Quantifi’s support as “top notch,” while Alex Posth, LBBW, says it is “outstanding.”
Rohan Douglas, CEO, Quantifi continues, “Valuing and risk managing even the simplest OTC products has become significantly more challenging and requires funding adjustments like OIS discounting and counterparty risk adjustments like CVA/DVA. Given these changes, sophisticated pricing and risk management solutions are playing an increasingly important role. This trend is likely to accelerate with the introduction of central clearing and Basel lll and the subsequent increase in complexity for all aspects of trading and risk management. By evolving rapidly we continue to provide our clients with solutions they can depend on, allowing them to respond rapidly to opportunities and more effectively manage their risks.”