Derivix Wins 2009 Futures and Options World Award for Innovation
New York - Jan. 12, 2010 - Derivix, a financial services software company providing options pricing, analytics and real-time risk visualization, today announced that the company’s cloud-based Portfolio Risk solution has been named “Best Innovation by an IT or Software Company” at the Futures and Options World (FOW) Awards for Innovation 2009.
“There was a highly competitive field for this award, with 15 entries from technology companies around the world,” said Jon Hay, managing editor of FOW. “In the opinion of our panel of judges, however, Derivix’s cloud-based Portfolio Risk solution for options was the clear winner. It is a sophisticated and versatile tool that addresses cost-effectively one of the market’s keenest needs - for fast and accurate risk management.”
The Derivix Portfolio Risk solution leverages the power of cloud computing to deliver powerful technology and remarkable scalability without the large upfront capital expense of a traditional high-performance infrastructure. The innovative offering enables financial services firms to compare portfolio performance in live markets side-by-side with limitless simulations that empower customers to visualize and manage current exposures, profit and loss (P&L) and firm-wide risk in real-time.
In discussing the Derivix solution, one judge told FOW: “I think Derivix has helped fill a huge void on several fronts. Capital expenditure is low so even smaller firms can utilize this tool. Cross-sector, cross-instrument, cross-trader solutions to help manage risk in all aspects of the trading operation are essential, particularly when before, a shop may not have had a true view into correlated instruments.”
“Our Portfolio Risk solution was designed specifically for options traders to solve their growing challenges around high capital hardware investments, latency and limited risk views,” said Jonathan Weedon, CEO and co-founder of Derivix. “This award is a solid validation of the high-quality, innovative solutions we provide to all our customers.”
Key features of the Derivix Portfolio Risk solution include:
- Cloud computing infrastructure
- Allows any trading firms to leverage Internet-based resources to manage risk and visualize rapidly changing markets without worrying about hardware investment, limitations or costs of computing infrastructure
- Ability to manage real-time risk and P&L over any sized stock and option portfolio
- Run pre- and post-trade risk shocks and other simulations against live market data
- Assess and evaluate risk by sector, account, or group, with cross group comparisons and simple drill down to the individual positions.
- Fully integrated into the Derivix pricing & analytics platform
- Seamless integration into the core options pricing system to visualize and manage risk across the portfolio.
- Ability to build out trade strategies to cover or leverage that risk and send trades directly into the options market
About Derivix:
Derivix is a financial services software company providing options pricing, risk visualization, and analytics solutions to the industry's leading options traders, sales traders, and hedge funds. Derivix sets the new standard in analytics systems, offering customers the powerful tools they need to stay ahead in a rapidly evolving electronic marketplace. With a commitment to broker neutrality, Derivix provides customers the flexibility they need to fit solutions into any business structure. Founded in 2005, the company has offices in New York, Boston and Silicon Valley.
This release does not constitute an offer to sell or a solicitation of an offer to sell any securities of Derivix.