Numerix

Numerix is a global financial technology company that provides capital markets software and solutions that enable clients to analyze and manage complex trade portfolios that consist of financial instruments, derivatives, and structured products. It is headquartered in  New York City with nineteen  offices worldwide.  

Numerix is primarily known for its expertise in providing financial institutions with advanced analytics and risk management solutions and for quantitative research breakthroughs.

Numerix builds multi-asset class analytics and scalable software for risk management, trading, valuations and pricing for both sell-side and buyside market participants.

Numerix products have won over 200 awards since 2006, including 'Risk Markets Technology Awards XVA calculation product of the year', 'FTF News Awards - Best Cloud-Adapted Solution Provider', and 'American Financial Technology Awards Most Innovative Third-Party Technology Vendor (Analytics)'.  

Numerix's solutions are widely used by banks, asset managers, insurance companies, large auditing firms, software firms, clearing houses, and other financial institutions to accurately price and value financial instruments, assess risk exposure, and optimize portfolio management.

Numerix has about 360 clients and 90 partners across more than 26 countries. The company strongly emphasizes establishing alliances with the financial and technology services industries. Their partner network includes big names like, Finastra Broadridge,  Nomura Research Institute, Oracle, CubeLogic,  Microsoft and  Amazon Web Services, etc.

After making a significant investment in the company, Greg Whitten invested an additional $32 million (U.S.) in 2001. 

In March 2017, Numerix acquired TFG Financial Systems, considered the only real-time risk, P&L, and position management system in the industry at that time. TFG’s dependency graph capabilities were leveraged to provide core real-time, distributed, event-driven processing capabilities in Numerix Oneview enterprise trading and risk solutions.

In August 2022, Numerix was acquired by Genstar Capital., a leading private equity firm focused on investments in targeted segments of the financial services, healthcare, industrials, and software industries.

In May 2023, Emanuele Conti was appointed CEO of Numerix. He has held CEO and executive leadership roles at Opus Global, Kroll, and Dun & Bradstreet. Emanuele proceeds Steven O'Hanlon, who held the title of CEO at Numerix from January 2013 to May 2023. Steven also held the title of COO at Numerix from 2004 to 2013. Steve became Vice Chairman for Numerix in May 2023.

In April 2023, Numerix acquired FINCAD, a leading analytics company in the pricing and risk analytics of financial derivatives and fixed-income products. Numerix acquired FINCAD from Zafin, a Product and Pricing SaaS solutions leader for global financial institutions. This acquisition brought four new solutions to Numerix, F3, FINCAD Analytics Suite, Fair Value Insight, and Hedge Accounting Insight.

The combination of Numerix and FINCAD will bring together two of the industry's most preeminent independent analytics providers for capital markets. Together, Numerix and FINCAD are deeply penetrated across the capital markets ecosystem, including sell-side, buy-side, corporate, and insurance market customers. Today, thousands of financial institutions globally - directly or through the combined partner channel - will be making trading and risk management decisions using the analytics and SaaS platforms provided by Numerix.

History

Numerix was founded in 1996 by Alexander Sokol, Nigel Goldenfeld, Mitchell Feigenbaum and Michael Goodkin as a software company selling multi-asset class pricing tool kits. The first Numerix product was a toolkit leveraged to speed up Monte Carlo simulations, tree and difference finite methods, and value-at-risk calculations.

In 1997, Merril Lynch became one of the first Marquee clients for Numerix purchasing two components of an early set of products called the NumeriX Time Library - SimXpress and TreeXpress.

In 1998, Former Microsoft Executive, Dr. Gregory Whitten, joined Numerix as a significant investor. He later became Co-Chairman of the board with Michael Goodkin.  

In 1998 Dr. Alexandre Antonov joined Numerix, where he later won Quant of the Year (2016) mainly for his research published 'The Free Boundary SABR: Natural Extension to Negative Rates.' Following Dr. Antonov's move to the company, more big names in quantitative research joined the Numerix team, including Dr. Serguei Issakov and Dr. Bill Humphrey.  

In 2009, Numerix was selected by Lehman Brothers Holdings Inc. (LBHI) to provide independent real-time valuations in its largest, most comprehensive derivatives valuation project. The signing of Numerix is critical in unwinding LBHI's derivatives book and the ultimate reconciliation of outstanding creditor claims.

Shortly after the financial crisis, Numerix expanded its offerings to risk solutions that evolve around a standard set of pricing analytics.

Numerix CrossAsset is used to price financial derivatives and calculate risk analytics – ranging from credit risk, market risk, stress testing, back testing, scenario generation and risk reporting.

Numerix continued to grow and build out its front office XVA adjustments for pre-trade pricing, as well as counterparty credit risk exposures and market risk measures. In 2016, it introduced ''Oneview'', its flagship risk management software, which is a real-time, front and middle office platform with a microservices' architecture, designed for pre-trade pricing, post-trade valuations, XVAs, counterparty risk, market risk, margin and capital calculations.

Competitors

Numerix’ direct competitors are SunGard-FastVal, MSCI, Quantifi, swissQuant and Pricing Partners a Thomson Reuters company.

References

Software companies based in New York (state)
Financial software companies
Software companies of the United States
2022 mergers and acquisitions

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