The company said it had taken the step on the back of increased demand from banks and other traders for more exotic products. IT&e said that the adoption of NumeriX would allow it to offer a more complete trading solution for its clients.
In addition, IT&e said the system would allow banks to create new complex instruments within days rather than months due to the shortened development and testing time, thus improving their market position.
IT&e CEO, James Maranis, said, NumeriX’s well recognized product coverage provides Razor with breadth of coverage in a number of key asset classes — such as credit derivatives and fixed income. The combination of leading edge credit and market risk management through Razor and in depth product coverage for all asset classes though NumeriX will provide IT&e with a significant market differentiator in the risk management marketplace.
