Vancouver, New York - April 10, 2012
FINCAD®, the market leader for innovative derivatives solutions, today announced that Viteos Fund Services ("Viteos"), a leading global hedge fund services firm, has enhanced its financial modeling capabilities by embedding FINCAD Analytics in its proprietary trade aggregation and middle office system, ASTTRA.
ASTTRA is part of the Viteos end-to-end technology platform for hedge funds and performs complete middle office functions from Security Master Golden Copy, Corporate Actions to Pricing, and now OTC Valuations using embedded FINCAD Analytics. Viteos selected FINCAD Analytics Suite for Developers to expand the OTC valuation engine in ASTTRA and offer increased valuations coverage to its clients. By integrating FINCAD Analytics into its proprietary software, Viteos successfully closes the trade lifecycle loop. Viteos' clients are now fully confident of the accuracy of calculations, which cover an extensive array of asset classes and models.
According to Chitra Baskar, COO of Viteos: "Our need to embed an analytics library into our existing system quickly and efficiently was met by FINCAD Analytics Suite for Developers. It helps us reduce the turnaround time for rolling out new models for Complex OTC Products and adapt quickly to the ever changing needs of the derivatives market. FINCAD's experts provided correct and feasible solutions for our needs, both in technical and functional terms, across asset classes."
"Putting clients first and delivering results are the cornerstones of FINCAD," said Bob Park, President and CEO of FINCAD. "We're pleased to know that our software has assisted in enhancing Viteos' advanced platform. Working with Viteos, they were able to achieve the goal of developing fully robust Straight-Through Processing that will provide their clients with increased flexibility and a gain in time savings."
About Viteos Fund Services
Viteos Fund Services is a hedge fund administrator and Middle Office outsourcing provider with offices in the United States, United Kingdom, Singapore, India and the Cayman Islands. Viteos provides a full range of services – middle office, accounting and administration. Professionals at Viteos have a deep understanding of marketplace, technology and client needs delivered with flexibility and accuracy and in line with clients' expectations. Viteos creates value for its customers through process expertise - leveraging robust technology and a global service delivery model.
Founded in 1990, FINCAD provides advanced modeling solutions built on award-winning, patent pending technology. With more than 4,000 clients in over 80 countries around the world, FINCAD is the leading provider of financial risk analytics technology, enabling global market participants to make informed hedging and investment decisions. FINCAD provides software and services supporting the valuation, reporting and risk management of derivatives and fixed income portfolios to banks, corporate treasuries, hedge funds, asset management firms, audit firms, and governments. FINCAD Analytics can be accessed through Excel, MATLAB, as a Software-as-a-Service or embedded into an existing system through software development kits. Now, over 70 FINCAD Alliance Partners embed FINCAD Analytics within their solutions. FINCAD provides sales and client services from Dublin, Ireland, and Vancouver, Canada.
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