Risk Management

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Hedge Fund Administrator Harmonic Selects Numerix Analytics to Power Independent Valuation

Harmonic will use Numerix’s CrossAsset library to power independent valuation and risk platform for clients.

Harmonic Fund Services, a specialized global hedge fund administrator, announced that they have selected Numerix, the provider of cross-asset analytics for derivatives valuations and risk management, to provide independent valuation and risk for OTC derivatives within Harmonic’s FM3 platform for alternative investment managers.

Through the use of Numerix CrossAsset – Numerix’s analytic platform and extensive library of independent models for pricing all OTC derivative asset classes – Harmonic will have an enhanced ability to independently value a comprehensive range of financial instruments and transactions. The library will be integrated with Harmonic’s proprietary alternative investments platform, FM3, a comprehensive front to back office system which, among other things, supports portfolio management, risk, accounting, investor management, complex fees and compliance.

To integrate Numerix’s analytics into FM3, Harmonic is utilizing Numerix CrossAsset Software Development Kit (SDK) which provides programmer-level access to Numerix’s world class analytics and comprehensive library of pricing models and methods.

“Independence is currently a major theme in financial services and particularly in alternative investment management. As a fund administrator, being able to offer clients a standardized and independent means of asset valuation has become increasingly important,” said John Wolfe, Managing Director at Harmonic.

WS&T May 2010 Digital Issue

“Numerix’s ability to handle and price any standard or custom derivative, coupled with the flexibility of the Numerix platform and software, gave us the confidence we needed to choose them as a best of breed provider. We look forward to our relationship with Numerix as we continually seek to develop new value added services for our clients.”

"The ability for administrators to compliment their existing offerings with independent valuations and risk management capabilities has increasingly become a priority in the market,” said Steven R. O'Hanlon, President and COO at Numerix. “We are very pleased to work with an institution such as Harmonic and look forward to collaborating on bringing new and innovative services to their managers.”

Melanie Rodier has worked as a print and broadcast journalist for over 10 years, covering business and finance, general news, and film trade news. Prior to joining Wall Street & Technology in April 2007, Melanie lived in Paris, where she worked for the International Herald ... View Full Bio

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