Sell-Side Technology Awards 2023: Best sell-side market risk product—Numerix

Product: Oneview

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Overview

Oneview is a cloud-native, software-as-a-service (SaaS) offering featuring sophisticated risk functionality, and is underpinned by high-quality market data that minimizes total cost of ownership for financial institutions. It provides the analytics required to meet regulatory challenges like Standard Initial Margin Model (Simm) and Fundamental Review of the Trading Book (FRTB), and specific regional regulatory challenges—e.g., the Security-Based Swaps Dealer rules issued by the Securities and Exchange Commission (SEC) in the US and the capital optimization challenges that comes with it.

“This win is a validation of Numerix’s vision to become the leading cloud-first, front-to-risk solution, empowering our clients to leverage cutting-edge technology to reduce operational costs, meet service-level agreements (SLAs), and focus on key business decisions and profitability.”
Satyam Kancharla, executive vice president and chief product officer, Numerix

The solution

Oneview Market Risk offers best-in-breed analytics by providing users with a coherent view of risk at different aggregation levels of the organization with drill-down capabilities to explain and manage risk as well as driving regulatory calculations to optimize capital requirements. Numerix’s cloud-native, serverless solution is scalable and employs a pay-per-use model, allowing users to focus on creating value for the business while lowering total cost of ownership.

Secret sauce

Oneview Market Risk’s guiding design principle is model transparency, providing clients with complete analytics information from portfolio level down to individual securities. This approach makes the regulatory model submission processes more efficient and transparent. Oneview Market Risk features a cloud-first approach, utilizing modern databases and business intelligence tools like Snowflake and Tableau. It also includes Numerix data management (NxDM) services, offering cleansed market data that works with the core analytics library to provide detailed analytics.

Recent enhancements

Over the past year, Numerix has developed a richer user interfaces for value-at-risk, sensitivity and scenario analysis/stress-test calculations, enabling clients to drill down and analyze numbers at a more granular level. Deployments have been automated to detect client trade drops, retrieve necessary market data, run calculations, and deliver results, while generating automated notifications, alerting clients of any issues. Additionally, a market data infrastructure has been developed to source, cleanse and normalize raw data for downstream use.

Future objectives

Oneview Market Risk’s functionality is being enhanced with a number of new features, including expanding the risk-based profit-and-loss (P&L) attribution functionality to include the full revaluation/roll-based methodology, developing asset and liability management (ALM) dashboards for asset managers to compare asset and liability sensitivities (Greeks) for hedging purposes, transitioning to Tableau for improved usability, and adding what-if/pre-trade analysis capabilities. Other features under development include moving Simm and FRTB modules to a new serverless architecture, and expansion of the predictive stress-testing module.

Why they won

Numerix once again emerges top in what has become a fiendishly competitive category in the annual SST Awards, a category that each year attracts a large number of outstanding entries. This year, the New York-based credit and market risk specialist beat 11 other entrants to the title, thanks largely (but not exclusively) to its Oneview Market Risk offering and the firm’s focus on supporting transparency into how and why risk numbers were extrapolated. This win follows up the firm’s success in the 2022 Buy-Side Technology Awards where it walked away with the best buy-side risk management product category.

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