Since 1990, FINCAD has been helping firms make better investment and risk decisions, improve workflow efficiency, and reduce operational risk.

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FINCAD’s Quarterly Newsletter
October 2014   |  Issue# 02
FINCAD Women in Finance Scholarship

FINCAD has long believed that deep market knowledge, transparency and trustworthiness play a critical role in making financial markets safe for all participants. In addition, FINCAD is keenly aware that the trend to include more women in the industry is not as rapid as it should be.

For these reasons, FINCAD has established the annual FINCAD Women in Finance Scholarship Program.

The FINCAD Women in Finance Scholarship Program offers an award of US$10,000 to support graduate-level studies. Women of any age, location and nationality are encouraged to apply.

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Survey of Market Participants:
Regulation and Risk are Top of Mind

FINCAD’s annual survey of market participants yielded insight into the continued focus on regulatory and risk issues. The survey results were presented in a recent webinar hosted by FINCAD and CEB TowerGroup and an infographic is also available.

This past year, derivative and fixed-income markets have been coping with the weight of regulatory compliance. As regulation begins to be phased in, the majority of surveyed firms are replacing or updating their risk system. In particular, firms are increasing IT budgets and opting to invest in Enterprise Risk Systems.

In the new reality of a permanent capital squeeze, firms are recognizing operational alpha in proactively adopting enterprise-wide risk processes. Additionally, multi-billion dollar litigation bills frequently making headlines for uncontrolled risk are compelling firms to make enterprise-wide risk management a priority.

Looking forward, near-term consideration is being given to increased oversight of large asset managers. Perceived as a source of systemic risk, regulators will likely expand stress testing and robust data reporting requirements to the largest asset management firms. Looking past future compliance, firms early to adopt best practices in enterprise risk management can realize a competitive advantage.

Download the infographic or watch the on-demand webinar

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Product News
FINCAD Analytics Suite

This summer marked the release of new versions of FINCAD Analytics Suite for Excel and FINCAD Analytics Suite for Developers.

  • Support for Windows 8/8.1 and the 64-bit version of Excel. This is beneficial for teams trying to upgrade to the most current supported operating systems and platforms. Please note that we will be discontinuing support for Office 2003, Windows XP and Windows Vista operating systems.
  • Enhanced OIS curve-building functionality. FINCAD Analytics Suite for Excel includes workbooks for OIS curve-building, which has become the market standard methodology for building curves. Thanks to new performance enhancements, this OIS curve-building is now faster.
  • Incorporation of negative deposit rates. This functionality enables negative yield inputs to calculate deposit values. This has been offered to align with central banks’ measures to spur economic growth.
  • Coverage of UST Floating Rate Notes (FRNs). This functionality was added to meet the growing use of these instruments, since issuances came to market at the beginning of 2014.

Please contact us at support@fincad.com if you have any questions or feedback.

Case Study
The Phoenix Group Uses F3 for ALM and Market Risk Hedging

The Phoenix Group is the largest UK consolidator of closed life assurance funds, with over 5 million policyholders and assets of £68.6 billion.

Using FINCAD’s F3 valuation and risk platform, the Phoenix Group has been able to model all assets in its annuity book and measure risk as actuaries and asset managers do on various regulatory and economic metrics. F3 seamlessly overlays The Phoenix Group’s actuarial modeling assumptions. This enables more frequent and timely monitoring of risk and return in their annuity books, leading to more effective investment decisions and risk hedging.

Read the full Case Study to learn more.

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CITIC Expands Derivatives Business with FINCAD’s F3 Analytics Solution

CITIC, one of the leading investment banks in China, is using a valuation and risk solution based on FINCAD’s F3 technology. F3 provides robust pricing and risk measurement capabilities, including key risk sensitivities for vanilla and complex trades or portfolios, thus enabling critical trading and risk management decisions.

Using FINCAD’s patented Universal Algorithmic Differentiation™, first-order risk sensitivities are produced in a fraction of the time it takes when using traditional curve-bumping methods. The F3 analytics solution also distributes calculations and optimizes resources to make intra-day risk and valuation easier. These efficiencies considerably improved time-to-market for CITIC, as they began trading more complex products.

Mr. Xu Xing Hai, Director of Equity Derivatives Business of CITIC said, “We use F3 to analyze risk for our entire options portfolio, including vanilla and exotic products. FINCAD provides near instantaneous analytical sensitivities for even the most complex structures.”

Read the full Case Study to learn more.

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Lisa Styles, Account Manager

When I joined FINCAD in 2011 as an Account Manager, I had a background in software sales, spanning from business intelligence solutions to accounting software, and now financial derivatives.

I was hired to help expand FINCAD sales to corporate and auditor clients. However, this role has evolved into one that focuses more on ensuring the success of FINCAD’s current client implementations, rather than expanding their usage and gaining new clients.

In my current role as a team lead, I work closely with the Customer Success Team to understand the needs and pain points of our clients and find solutions using FINCAD software. I enjoy working closely with our current customers and helping them reach their goals.

In my time at FINCAD, I’ve been exposed to people with a great deal of quantitative knowledge and financial industry experience. At FINCAD, we work closely together as a team and I hope that is evident in our communications with customers.

Client Services
Optimize Your FINCAD Solution
Curve Building
Learn how to build, manipulate, and use multiple types of curves for discounting in a number of different currencies and collateral agreements. You can construct curves from a variety of market instruments, interpolation methods, and parametric representations.
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F3 Platform Hybrids and Advanced Structures
Read how FINCAD technology enables you to value virtually any derivative instrument and asset class – including those with complex payoffs and structures.
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SimCorp International User Community Meeting (IUCM), September 18-19, Paris

Enterprise Risk Management Symposium, September 29-October 1, Chicago

EzeSoft Client Conference, October 15-17, Boston
FINCAD’s Dr. Tony Webb will be a panelist

Charles River Global Client Conference, October 26-29, Boca Raton, Florida

Society of Actuaries Equity-Based Insurance Guarantees Conference
November 17-18, Chicago

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