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!

Bill Gropp – Pursuing the Next Big Thing at NCSA

March 28, 2017

About eight months ago Bill Gropp was elevated to acting director of the National Center for Supercomputing Applications (NCSA). Read more…

By John Russell

UK to Launch Six Major HPC Centers

March 27, 2017

Six high performance computing centers will be formally launched in the U.K. later this week intended to provide wider access to HPC resources to U.K. Read more…

By John Russell

AI in the News: Rao in at Intel, Ng out at Baidu, Nvidia on at Tencent Cloud

March 26, 2017

Just as AI has become the leitmotif of the advanced scale computing market, infusing much of the conversation about HPC in commercial and industrial spheres, it also is impacting high-level management changes in the industry. Read more…

By Doug Black

Scalable Informatics Ceases Operations

March 23, 2017

On the same day we reported on the uncertain future for HPC compiler company PathScale, we are sad to learn that another HPC vendor, Scalable Informatics, is closing its doors. Read more…

By Tiffany Trader

HPE Extreme Performance Solutions

Quants Achieving Maximum Compute Power without the Learning Curve

The financial services industry is a fast-paced and data-intensive environment, and financial firms are realizing that they must modernize their IT infrastructures and invest in high performance computing (HPC) tools in order to survive. Read more…

‘Strategies in Biomedical Data Science’ Advances IT-Research Synergies

March 23, 2017

“Strategies in Biomedical Data Science: Driving Force for Innovation” by Jay A. Etchings is both an introductory text and a field guide for anyone working with biomedical data. Read more…

By Tiffany Trader

HPC Compiler Company PathScale Seeks Life Raft

March 23, 2017

HPCwire has learned that HPC compiler company PathScale has fallen on difficult times and is asking the community for help or actively seeking a buyer for its assets. Read more…

By Tiffany Trader

Google Launches New Machine Learning Journal

March 22, 2017

On Monday, Google announced plans to launch a new peer review journal and “ecosystem” Read more…

By John Russell

Swiss Researchers Peer Inside Chips with Improved X-Ray Imaging

March 22, 2017

Peering inside semiconductor chips using x-ray imaging isn’t new, but the technique hasn’t been especially good or easy to accomplish. Read more…

By John Russell

Bill Gropp – Pursuing the Next Big Thing at NCSA

March 28, 2017

About eight months ago Bill Gropp was elevated to acting director of the National Center for Supercomputing Applications (NCSA). Read more…

By John Russell

HPC Compiler Company PathScale Seeks Life Raft

March 23, 2017

HPCwire has learned that HPC compiler company PathScale has fallen on difficult times and is asking the community for help or actively seeking a buyer for its assets. Read more…

By Tiffany Trader

Quantum Bits: D-Wave and VW; Google Quantum Lab; IBM Expands Access

March 21, 2017

For a technology that’s usually characterized as far off and in a distant galaxy, quantum computing has been steadily picking up steam. Read more…

By John Russell

Trump Budget Targets NIH, DOE, and EPA; No Mention of NSF

March 16, 2017

President Trump’s proposed U.S. fiscal 2018 budget issued today sharply cuts science spending while bolstering military spending as he promised during the campaign. Read more…

By John Russell

CPU-based Visualization Positions for Exascale Supercomputing

March 16, 2017

In this contributed perspective piece, Intel’s Jim Jeffers makes the case that CPU-based visualization is now widely adopted and as such is no longer a contrarian view, but is rather an exascale requirement. Read more…

By Jim Jeffers, Principal Engineer and Engineering Leader, Intel

US Supercomputing Leaders Tackle the China Question

March 15, 2017

Joint DOE-NSA report responds to the increased global pressures impacting the competitiveness of U.S. supercomputing. Read more…

By Tiffany Trader

New Japanese Supercomputing Project Targets Exascale

March 14, 2017

Another Japanese supercomputing project was revealed this week, this one from emerging supercomputer maker, ExaScaler Inc., and Keio University. The partners are working on an original supercomputer design with exascale aspirations. Read more…

By Tiffany Trader

Nvidia Debuts HGX-1 for Cloud; Announces Fujitsu AI Deal

March 9, 2017

On Monday Nvidia announced a major deal with Fujitsu to help build an AI supercomputer for RIKEN using 24 DGX-1 servers. Read more…

By John Russell

For IBM/OpenPOWER: Success in 2017 = (Volume) Sales

January 11, 2017

To a large degree IBM and the OpenPOWER Foundation have done what they said they would – assembling a substantial and growing ecosystem and bringing Power-based products to market, all in about three years. Read more…

By John Russell

Quantum Bits: D-Wave and VW; Google Quantum Lab; IBM Expands Access

March 21, 2017

For a technology that’s usually characterized as far off and in a distant galaxy, quantum computing has been steadily picking up steam. Read more…

By John Russell

Trump Budget Targets NIH, DOE, and EPA; No Mention of NSF

March 16, 2017

President Trump’s proposed U.S. fiscal 2018 budget issued today sharply cuts science spending while bolstering military spending as he promised during the campaign. Read more…

By John Russell

HPC Compiler Company PathScale Seeks Life Raft

March 23, 2017

HPCwire has learned that HPC compiler company PathScale has fallen on difficult times and is asking the community for help or actively seeking a buyer for its assets. Read more…

By Tiffany Trader

TSUBAME3.0 Points to Future HPE Pascal-NVLink-OPA Server

February 17, 2017

Since our initial coverage of the TSUBAME3.0 supercomputer yesterday, more details have come to light on this innovative project. Of particular interest is a new board design for NVLink-equipped Pascal P100 GPUs that will create another entrant to the space currently occupied by Nvidia's DGX-1 system, IBM's "Minsky" platform and the Supermicro SuperServer (1028GQ-TXR). Read more…

By Tiffany Trader

Tokyo Tech’s TSUBAME3.0 Will Be First HPE-SGI Super

February 16, 2017

In a press event Friday afternoon local time in Japan, Tokyo Institute of Technology (Tokyo Tech) announced its plans for the TSUBAME3.0 supercomputer, which will be Japan’s “fastest AI supercomputer,” Read more…

By Tiffany Trader

IBM Wants to be “Red Hat” of Deep Learning

January 26, 2017

IBM today announced the addition of TensorFlow and Chainer deep learning frameworks to its PowerAI suite of deep learning tools, which already includes popular offerings such as Caffe, Theano, and Torch. Read more…

By John Russell

Lighting up Aurora: Behind the Scenes at the Creation of the DOE’s Upcoming 200 Petaflops Supercomputer

December 1, 2016

In April 2015, U.S. Department of Energy Undersecretary Franklin Orr announced that Intel would be the prime contractor for Aurora: Read more…

By Jan Rowell

Leading Solution Providers

Is Liquid Cooling Ready to Go Mainstream?

February 13, 2017

Lost in the frenzy of SC16 was a substantial rise in the number of vendors showing server oriented liquid cooling technologies. Three decades ago liquid cooling was pretty much the exclusive realm of the Cray-2 and IBM mainframe class products. That’s changing. We are now seeing an emergence of x86 class server products with exotic plumbing technology ranging from Direct-to-Chip to servers and storage completely immersed in a dielectric fluid. Read more…

By Steve Campbell

Enlisting Deep Learning in the War on Cancer

December 7, 2016

Sometime in Q2 2017 the first ‘results’ of the Joint Design of Advanced Computing Solutions for Cancer (JDACS4C) will become publicly available according to Rick Stevens. He leads one of three JDACS4C pilot projects pressing deep learning (DL) into service in the War on Cancer. Read more…

By John Russell

BioTeam’s Berman Charts 2017 HPC Trends in Life Sciences

January 4, 2017

Twenty years ago high performance computing was nearly absent from life sciences. Today it’s used throughout life sciences and biomedical research. Genomics and the data deluge from modern lab instruments are the main drivers, but so is the longer-term desire to perform predictive simulation in support of Precision Medicine (PM). There’s even a specialized life sciences supercomputer, ‘Anton’ from D.E. Shaw Research, and the Pittsburgh Supercomputing Center is standing up its second Anton 2 and actively soliciting project proposals. There’s a lot going on. Read more…

By John Russell

HPC Startup Advances Auto-Parallelization’s Promise

January 23, 2017

The shift from single core to multicore hardware has made finding parallelism in codes more important than ever, but that hasn’t made the task of parallel programming any easier. Read more…

By Tiffany Trader

HPC Technique Propels Deep Learning at Scale

February 21, 2017

Researchers from Baidu’s Silicon Valley AI Lab (SVAIL) have adapted a well-known HPC communication technique to boost the speed and scale of their neural network training and now they are sharing their implementation with the larger deep learning community. Read more…

By Tiffany Trader

CPU Benchmarking: Haswell Versus POWER8

June 2, 2015

With OpenPOWER activity ramping up and IBM’s prominent role in the upcoming DOE machines Summit and Sierra, it’s a good time to look at how the IBM POWER CPU stacks up against the x86 Xeon Haswell CPU from Intel. Read more…

By Tiffany Trader

US Supercomputing Leaders Tackle the China Question

March 15, 2017

Joint DOE-NSA report responds to the increased global pressures impacting the competitiveness of U.S. supercomputing. Read more…

By Tiffany Trader

IDG to Be Bought by Chinese Investors; IDC to Spin Out HPC Group

January 19, 2017

US-based publishing and investment firm International Data Group, Inc. (IDG) will be acquired by a pair of Chinese investors, China Oceanwide Holdings Group Co., Ltd. Read more…

By Tiffany Trader

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