The changes represent the next chapter for PolyPaths, known for helping firms move away from LIBOR.
Numerix has made “significant enhancements across the PolyPaths product suite,” including new reporting and client-centric capabilities that represent the next chapter for PolyPaths, known for helping firms make the transition away from the discredited London Interbank Offered Rate (LIBOR).
“This update represents a pivotal shift in our approach. Given the prolonged prevalence of LIBOR as a benchmark in fixed-income risk management, it was deeply woven into many aspects of risk management for fixed income, making transitioning to a post-LIBOR environment imperative,” says Kelli Sayres, senior managing director with Numerix, in a prepared statement.
The PolyPaths team helped end-users navigate the LIBOR transition through “upgrades to default settings to align with a post-LIBOR framework,” according to Numerix.
“Our philosophy has always been to provide reasonable out-of-the-box defaults while still providing flexibility for clients who would like it,” Sayres adds.
Since Numerix acquired PolyPaths in August 2023, “its integration tools, including a new Valuation API and expanded scripting options” have become part of the Numerix product set.
“We have introduced diverse reporting capabilities, focusing on client-centric enhancements, enhancing their ability to access and utilize upstream data for downstream analytics,” says Satyam Kancharla, chief product officer for Numerix, in a statement.
The PolyPaths update includes “a top-down review of all PolyPaths’ default pricing and market rate assumptions,” officials say. “The annual update also introduces features designed to support a broad spectrum of client needs, including flexible loan features, mortgage servicing rights (MSR) modeling, and inflation risk management.”
Numerix, founded in 1996, offers quantitative analytics support, and software offerings for pricing and risk management in the financial markets, officials say. In addition to PolyPaths, the provider has expanded its offerings with the acquisition of FINCAD in April 2023.
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