Tuesday May 8, 7:23 am Eastern TimePress Release
SOURCE:
SciComp Inc.SciFinance and SciXL Chosen by ABN AMRO's Equity Derivatives Group in London To Prototype and View Derivative Pricing Models
AUSTIN, Texas, May 8 /PRNewswire/ -- SciComp Inc., a leading provider of
automated derivatives pricing technology, announced today that ABN AMRO, a
prominent international banking group, has purchased licenses for the
SciFinance® and SciXL(TM) software products.
ABN AMRO will use codes
generated by SciFinance to rapidly prototype equity derivative instruments.
SciFinance automatically generates custom code from concise specifications
of derivative structures -- pricing without programming.
The software
decreases the turnaround time for derivative model prototyping and allows
analysts to easily explore and refine new algorithms and complex options.
The
SciXL option automatically integrates SciFinance-produced pricing models into
Microsoft® Excel spreadsheets.
``We are confident that SciFinance will streamline our workflow for
prototyping derivative pricing models,'' said Andrew Greaves, Managing Director
at ABN AMRO.
``We will use SciXL to run models in Excel without extra
programming steps.
Together, SciFinance and SciXL will reduce the time and
cost involved with new model development,'' Greaves added.
``The SciFinance software system crunches out code at an amazing rate.
The
code is consistent and well documented,'' said Jason Zhao, quantitative analyst
with ABN AMRO.
``With the SciXL option, we'll be able to quickly view our
models in spreadsheet form,'' Zhao added.
SciFinance enables financial analysts to automatically generate complex
option pricing codes without manual programming.
This technology produces
codes which often run faster and are more accurate than traditional methods.
SciXL is an easy-to-use tool for integrating the SciFinance-generated pricing
codes into Microsoft Excel.
SciXL automatically builds Excel add-in programs
and custom spreadsheets for the pricing codes, allowing analysts to
immediately experiment with their models.
Elaine Kant, SciComp's founder and president, said, ``SciXL is an important
addition to the SciFinance product line.
Our customers can now easily
integrate SciFinance-generated code into their spreadsheets without
programming, allowing analysts, traders and IT integrators to all see the
models in a familiar spreadsheet interface.''
About SciComp Inc.
As the recognized leader in software synthesis, SciComp provides automated
pricing technology to the financial services industry.
SciComp's products are
used by some of the world's largest investment banks to decrease the
turnaround time for derivative model development.
Visit www.scicomp.com or
call 512-451-1050 for more information.
About ABN AMRO
ABN AMRO is one of the world's largest banks with total assets of more
than USD 500 billion and more than 3,500 locations in 70 countries and
territories.
Its activities are grouped into three strategic business units:
Wholesale Clients, which provides integrated corporate and investment banking
services to corporate, financial institutions and public clients worldwide;
Consumer & Commercial Clients, which focuses on retail and SME clients in a
number of core markets; and Private Clients & Asset Management, which focuses
on private banking and fund management clients globally.
This release was issued through DigitalWork -- The Leader In Enabling
eServices.
