NEW YORK, June 27, 2013 /PRNewswire/ — PortfolioScience, a leading provider of on-demand risk management systems for hedge funds and hedge fund service providers, today announced the addition of Interest Rate Swaps (IRS) coverage to RiskAPI, the company's high performance, API-based risk analysis service. The extended coverage allows hedge funds, fund service providers, and enterprise systems interfacing with RiskAPI to measure the risk and value multi-currency interest rate swaps across portfolios and individual holdings.
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"Coverage of interest rate swaps is an important milestone in the evolution of the RiskAPI system," said Ittai Korin, founder and President of PortfolioScience. "Having the ability to rapidly generate exposure and valuation analytics for IRS positions is yet another that way that PortfolioScience adds value to hedge funds, portfolio managers, and risk analysts."
As with other currently supported markets and asset classes, analytics for IRS contracts were implemented under the company's high-performance framework such that complex calculations like multi-model Value at Risk (VaR) and stress-testing execute in a near-instantaneous fashion. "Our clients expect the RiskAPI system to handle sophisticated calculations on thousands of positions instantly. It was important for us to deliver the same performance for IRS positions, even though the valuation of such complex instruments is far more computationally intensive," said Korin.
The RiskAPI system is a hosted, software-as-a-service solution that includes all data, computing power, and analytics required to generate a whole spectrum of risk analysis calculation results. The service is delivered through a fully dynamic remote Application Programming Interface (API) that is available via the Excel, .Net, and Java environments. As with other supported asset classes and global markets, Interest Rate Swap coverage is currently available via PortfolioScience's RiskAPI Add-In and RiskAPI Enterprise services.
About PortfolioScience
PortfolioScience specializes in risk management technology for financial institutions, investment services, financial advisors, and hedge funds. The company's products allow fund managers, traders, and investors alike to access powerful risk analysis capabilities on demand. PortfolioScience creates turn-key risk management systems for institutional financial services, allowing them to provide their clients with portfolio risk analysis services virtually overnight.
Founded in 2000, the company serves clients in the Americas, Europe, Asia, and Africa spanning the brokerage, fund administrator, hedge fund, and mutual fund industries.
The PortfolioScience tool set has been featured in Barron's, Business Week, Forbes and more. To learn more, visit www.portfolioscience.com.
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