Numerix Wins Technology Innovation of the Year Award

June 9, 2014

NEW YORK, N.Y., June 9 – Numerix (www.numerix.com), the leading provider of cross-asset analytics for derivatives valuations and risk management, today announced it has been recognized for Technology Innovation of the Year in the 2014 Structured Products Americas Awards.  As Variable Annuities (VAs) and Indexed Annuity (IA) products have gained popularity, Insurance companies are increasingly using a range of quantitative financial tools to manage large portfolios of sophisticated structures. Numerix Leading Hedge provides the cross-asset capabilities and advanced risk analysis required for dynamic hedging, market consistent valuation, capital forecasting and enterprise-level risk management.

As noted by Structured Products Editors, key to Numerix’s award win was its extensive work over the past several years with Transamerica Capital Management. As part of a multi-phase, multi-year asset and liability management strategy Transamerica first began to leverage Numerix’s Leading Hedge life and annuity product hedging platform to manage 160,000 guaranteed minimum withdrawal benefits annuities policies. Eventually adding 50,000 more policies and upgrading to a more complex market model with a term structure of volatility, Greeks increased twofold.

“One would think that because the number of policies, Greeks and attributions all increased while the product logic became substantially more complex, that the run-time would similarly increase,” says Hunt Blatz, vice-president and head of model development at Transamerica Capital Management. “However, Transamerica’s run-times for both the Greeks run and the attributions run decreased from three hours to between two and two-and-a-half hours as a result of technical improvements in the Leading Hedge software.”

In future phases of its strategic partnership, Transamerica will introduce stochastic-on-stochastic scenario simulations, product valuation for financial planning and International Financial Reporting Standard deferred acquisition cost calculations. This entails very large data sets and may require the use of new NoSQL database technology and Numerix’s high-performance cloud computing capabilities. Lastly, Transamerica also plans to integrate its portfolio of hedging assets into Leading Hedge, and work together to complete the implementation of stochastic equity volatility and stochastic rates into the company’s market models using the Numerix hybrid model framework.

“As our relationship has progressed, we’ve taken a collaborative approach with Transamerica – building a scalable, modern infrastructure and future proof design that could be used as its foundational VA platform for the next several decades,” said Steven R. O’Hanlon, Chief Executive Officer & President of Numerix. “As Insurance companies continue to face the enormous complexity of its legacy systems, they lack the transparency and in some cases the analytical background needed to solve challenges. Selected for its comprehensive models, analytical and capital markets expertise – Numerix’s ability to manage the extremely complex and computationally demanding nature of insurance products within a unified, cross-asset platform fit nicely into the client’s vision of a best practice risk system.”

Together with Microsoft Azure insurance companies utilizing Leading Hedge can save massive amounts of time and money. “With the flexibility and scalability of Azure, companies can quickly access the compute power they need across a global network of datacenters to support their complex modeling requirements,” said Tony Jacob, Managing Director, Worldwide Insurance at Microsoft Corp. “By offering high-performance computing cores in the cloud, carriers can have access to elastic compute power that can be consumed and managed like a utility.  They gain agility while also greatly lowering the IT costs associated with infrastructure. By leveraging this capability to support Leading Hedge, Numerix allows insurance companies to greatly enhance their real-time insight that improves risk management, regulatory compliance and business performance.”

Hunt Blatz concludes: “I believe Numerix Leading Hedge has the fastest run-time while also being the most flexible projection software available, as well as being relatively easy to learn and use.”

Numerix Insurance solutions are enabling Actuaries, risk-management, product development and valuation professionals to quantify, monitor and manage the risks underlying VA and IA products. With Leading Hedge users have the ability to create, analyze and test complex new product designs and models, and employ sophisticated hedge asset management and dynamic hedging programs. Numerix Economic Scenario Generator (ESG) can also be leveraged as a sophisticated stochastic simulation framework to more accurately capture risk neutral behavior and real-world scenarios.

About Numerix

Numerix is the award winning, leading independent analytics institution providing cross-asset solutions for structuring, pre-trade price discovery, trade capture, valuation and portfolio management of derivatives and structured products. Since its inception in 1996, over 700 clients and 80 partners across more than 25 countries have come to rely on Numerix analytics for speed and accuracy in valuing and managing the most sophisticated financial instruments. With offices in New York, Sao Paulo, London, Paris, Frankfurt, Milan, Stockholm, Tokyo, Hong Kong, Singapore, Dubai, South Korea, India and Australia, Numerix brings together unparalleled expertise across all asset classes and engineering disciplines. For more information please visit www.numerix.com.

Source: Numerix

Subscribe to HPCwire's Weekly Update!

Be the most informed person in the room! Stay ahead of the tech trends with industy updates delivered to you every week!

Fluid HPC: How Extreme-Scale Computing Should Respond to Meltdown and Spectre

February 15, 2018

The Meltdown and Spectre vulnerabilities are proving difficult to fix, and initial experiments suggest security patches will cause significant performance penalties to HPC applications. Even as these patches are rolled o Read more…

By Pete Beckman

Intel Touts Silicon Spin Qubits for Quantum Computing

February 14, 2018

Debate around what makes a good qubit and how best to manufacture them is a sprawling topic. There are many insistent voices favoring one or another approach. Referencing a paper published today in Nature, Intel has offe Read more…

By John Russell

Brookhaven Ramps Up Computing for National Security Effort

February 14, 2018

Last week, Dan Coats, the director of Director of National Intelligence for the U.S., warned the Senate Intelligence Committee that Russia was likely to meddle in the 2018 mid-term U.S. elections, much as it stands accused of doing in the 2016 Presidential election. Read more…

By John Russell

HPE Extreme Performance Solutions

Safeguard Your HPC Environment with the World’s Most Secure Industry Standard Servers

Today’s organizations operate in an environment with ever-evolving threats, and in order to protect themselves they must continuously bolster their security strategy. Hewlett Packard Enterprise (HPE) and Intel® are addressing modern security challenges with the world’s most secure industry standard servers powered by the latest generation of Intel® Xeon® Scalable processors. Read more…

AI Cloud Competition Heats Up: Google’s TPUs, Amazon Building AI Chip

February 12, 2018

Competition in the white hot AI (and public cloud) market pits Google against Amazon this week, with Google offering AI hardware on its cloud platform intended to make it easier, faster and cheaper to train and run machi Read more…

By Doug Black

Fluid HPC: How Extreme-Scale Computing Should Respond to Meltdown and Spectre

February 15, 2018

The Meltdown and Spectre vulnerabilities are proving difficult to fix, and initial experiments suggest security patches will cause significant performance penal Read more…

By Pete Beckman

Brookhaven Ramps Up Computing for National Security Effort

February 14, 2018

Last week, Dan Coats, the director of Director of National Intelligence for the U.S., warned the Senate Intelligence Committee that Russia was likely to meddle in the 2018 mid-term U.S. elections, much as it stands accused of doing in the 2016 Presidential election. Read more…

By John Russell

AI Cloud Competition Heats Up: Google’s TPUs, Amazon Building AI Chip

February 12, 2018

Competition in the white hot AI (and public cloud) market pits Google against Amazon this week, with Google offering AI hardware on its cloud platform intended Read more…

By Doug Black

Russian Nuclear Engineers Caught Cryptomining on Lab Supercomputer

February 12, 2018

Nuclear scientists working at the All-Russian Research Institute of Experimental Physics (RFNC-VNIIEF) have been arrested for using lab supercomputing resources to mine crypto-currency, according to a report in Russia’s Interfax News Agency. Read more…

By Tiffany Trader

The Food Industry’s Next Journey — from Mars to Exascale

February 12, 2018

Global food producer and one of the world's leading chocolate companies Mars Inc. has a unique perspective on the impact that exascale computing will have on the food industry. Read more…

By Scott Gibson, Oak Ridge National Laboratory

Singularity HPC Container Start-Up – Sylabs – Emerges from Stealth

February 8, 2018

The driving force behind Singularity, the popular HPC container technology, is bringing the open source platform to the enterprise with the launch of a new vent Read more…

By George Leopold

Dell EMC Debuts PowerEdge Servers with AMD EPYC Chips

February 6, 2018

AMD notched another EPYC processor win today with Dell EMC’s introduction of three PowerEdge servers (R6415, R7415, and R7425) based on the EPYC 7000-series p Read more…

By John Russell

‘Next Generation’ Universe Simulation Is Most Advanced Yet

February 5, 2018

The research group that gave us the most detailed time-lapse simulation of the universe’s evolution in 2014, spanning 13.8 billion years of cosmic evolution, is back in the spotlight with an even more advanced cosmological model that is providing new insights into how black holes influence the distribution of dark matter, how heavy elements are produced and distributed, and where magnetic fields originate. Read more…

By Tiffany Trader

Inventor Claims to Have Solved Floating Point Error Problem

January 17, 2018

"The decades-old floating point error problem has been solved," proclaims a press release from inventor Alan Jorgensen. The computer scientist has filed for and Read more…

By Tiffany Trader

Japan Unveils Quantum Neural Network

November 22, 2017

The U.S. and China are leading the race toward productive quantum computing, but it's early enough that ultimate leadership is still something of an open questi Read more…

By Tiffany Trader

AMD Showcases Growing Portfolio of EPYC and Radeon-based Systems at SC17

November 13, 2017

AMD’s charge back into HPC and the datacenter is on full display at SC17. Having launched the EPYC processor line in June along with its MI25 GPU the focus he Read more…

By John Russell

Researchers Measure Impact of ‘Meltdown’ and ‘Spectre’ Patches on HPC Workloads

January 17, 2018

Computer scientists from the Center for Computational Research, State University of New York (SUNY), University at Buffalo have examined the effect of Meltdown Read more…

By Tiffany Trader

Nvidia Responds to Google TPU Benchmarking

April 10, 2017

Nvidia highlights strengths of its newest GPU silicon in response to Google's report on the performance and energy advantages of its custom tensor processor. Read more…

By Tiffany Trader

IBM Begins Power9 Rollout with Backing from DOE, Google

December 6, 2017

After over a year of buildup, IBM is unveiling its first Power9 system based on the same architecture as the Department of Energy CORAL supercomputers, Summit a Read more…

By Tiffany Trader

Fast Forward: Five HPC Predictions for 2018

December 21, 2017

What’s on your list of high (and low) lights for 2017? Volta 100’s arrival on the heels of the P100? Appearance, albeit late in the year, of IBM’s Power9? Read more…

By John Russell

Russian Nuclear Engineers Caught Cryptomining on Lab Supercomputer

February 12, 2018

Nuclear scientists working at the All-Russian Research Institute of Experimental Physics (RFNC-VNIIEF) have been arrested for using lab supercomputing resources to mine crypto-currency, according to a report in Russia’s Interfax News Agency. Read more…

By Tiffany Trader

Leading Solution Providers

Chip Flaws ‘Meltdown’ and ‘Spectre’ Loom Large

January 4, 2018

The HPC and wider tech community have been abuzz this week over the discovery of critical design flaws that impact virtually all contemporary microprocessors. T Read more…

By Tiffany Trader

Perspective: What Really Happened at SC17?

November 22, 2017

SC is over. Now comes the myriad of follow-ups. Inboxes are filled with templated emails from vendors and other exhibitors hoping to win a place in the post-SC thinking of booth visitors. Attendees of tutorials, workshops and other technical sessions will be inundated with requests for feedback. Read more…

By Andrew Jones

How Meltdown and Spectre Patches Will Affect HPC Workloads

January 10, 2018

There have been claims that the fixes for the Meltdown and Spectre security vulnerabilities, named the KPTI (aka KAISER) patches, are going to affect applicatio Read more…

By Rosemary Francis

GlobalFoundries, Ayar Labs Team Up to Commercialize Optical I/O

December 4, 2017

GlobalFoundries (GF) and Ayar Labs, a startup focused on using light, instead of electricity, to transfer data between chips, today announced they've entered in Read more…

By Tiffany Trader

Tensors Come of Age: Why the AI Revolution Will Help HPC

November 13, 2017

Thirty years ago, parallel computing was coming of age. A bitter battle began between stalwart vector computing supporters and advocates of various approaches to parallel computing. IBM skeptic Alan Karp, reacting to announcements of nCUBE’s 1024-microprocessor system and Thinking Machines’ 65,536-element array, made a public $100 wager that no one could get a parallel speedup of over 200 on real HPC workloads. Read more…

By John Gustafson & Lenore Mullin

Flipping the Flops and Reading the Top500 Tea Leaves

November 13, 2017

The 50th edition of the Top500 list, the biannual publication of the world’s fastest supercomputers based on public Linpack benchmarking results, was released Read more…

By Tiffany Trader

V100 Good but not Great on Select Deep Learning Aps, Says Xcelerit

November 27, 2017

Wringing optimum performance from hardware to accelerate deep learning applications is a challenge that often depends on the specific application in use. A benc Read more…

By John Russell

2017 Gordon Bell Prize Finalists Named

October 23, 2017

The three finalists for this year’s Gordon Bell Prize in High Performance Computing have been announced. They include two papers on projects run on China’s Read more…

By John Russell

  • arrow
  • Click Here for More Headlines
  • arrow
Share This