FINCAD Adds Emerging Markets Data
February 1st 2010
Software provider Fincad has added interest rate curve data for Asian and South African currencies to its range of derivatives valuation and risk management products, and plans to add more Latin American and Asian data in future, to meet client demand for data from emerging markets.
Fincad added currency data for Hong Kong dollars and South African rand in late December, and over the next quarter also plans to add currency data on the Mexican peso, Brazilian real, Chilean peso, Thai baht and South Korean won, as well as cross-currency rates between currency pairs. Fincad is sourcing this data from interdealer broker Icap, under a partnership forged between the twolast July to launch Fair Value Insight, a Web-based solution for valuing derivatives using data supplied by Icap (IMD, July 20, 2009).
Gurpreet Banwait, product manager at Fincad, says demand for the emerging markets data primarily comes from commodities producers and manufacturers in Eastern Europe, the US and Canada that do business in these markets.
The vendor has made the data available across all its products, including its Fincad Analytics Suite for Excel for valuing derivatives and fixed-income instruments and measuring risk, as well as Fair Value Insight. Clients will be able to use the new emerging markets data as an input into the vendor's valuation and risk management models for interest rate products, including swaps, bonds and floating-rate notes, as well as to support trading in fixed-income, commodity and FX contracts. Banwait says Fincad is also making the data available as a download so that users can use the data to value other types of instruments, such as structured products.
In addition, users will be able to access historical data in order to price instruments back to Dec. 31, 1999, and to duplicate calculations or recreate historical valuations for internal audits, as well as audits by regulators.
