Steven R. O'Hanlon, President and COO, 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."
Harmonic Fund Services, the hedge fund administrator, have 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 library of independent models for pricing all OTC derivative asset classes - Harmonic will be able to independently value a range of financial instruments and transactions. The library will be integrated with Harmonic's proprietary alternative investments platform, FM3, a front to back office system which 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 analytics and 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. "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."