“With Numerix, we are able to scale our valuation services commensurate with market needs. Our team is growing very fast and combined with Numerix' cutting-edge pricing engine, we can stay ahead of the curve," said Bernhard Posselt, Partner at BDO. "Numerix provides our quant team with state-of-the-art pricing models and advanced analytics solutions to further improve our service on the one hand, and also make our offering accessible to an even more diverse client base on the other."
As one of the world’s largest accounting and advisory firm, BDO’s Financial Services practice provides an array of regulatory, risk and valuation services to clients addressing different challenges, changes, and opportunities. As a part of its Financial Services Division, this unit provides valuation assurance service with respect to fair value measurements. By leveraging Numerix technology stack, BDO will enhance this offering. Numerix Pricing Technology is the premier pricing software for the capital markets known for providing unprecedented flexibility for structuring, pricing and managing even the most complex derivatives and structured products.
Through the new partnership, clients of BDO are receiving a best of breed solution; a combination of BDO team’s expertise and Numerix key features, including:
- Accurate pricing across all asset classes and higher degree of automation,
- Flexible pricing tools enabling the pricing of any Capital Markets instrument; supported by the industry’s most extensive model library, various calibration possibilities, and a flexible payoff script module and
- Pricing transparency across all operations.
“With the help of Numerix we were able to deploy valuation infrastructure allowing us to revalue thousands of financial instruments during the course of audits of the financial statements of our clients for the year 2021 in less than an hour.” said Tatiana Steklova, valuation lead in BDO’s Financial Services Division.
“The flexibility of Numerix analytics, intuitive payoff scripting language and the breadth of models and instruments coverage, has made Numerix a valuable partner, especially for Auditing firms like BDO,” said Steve O’Hanlon, CEO and President of Numerix. “We’re proud to support BDO as they work towards accelerating their business goals, including building an excellence center to provide the valuation of complex products and a more dynamic, seamless work experience for its users.”
BDO is one of the leading companies in Germany for Advisory, Audit & Assurance and Tax & Legal. With 27 locations in Germany, around 2,100 employees service companies of all sizes, corporate forms and industries from both the private and the public sector, BDO offers the full range of audit-related services from internal audits, through designing and appraising systems for risk and opportunities management, to assessing compliance with regulatory requirements.
BDO helps its clients to consistently exploit opportunities and manage risks with secure, accelerated and customized services. BDO focuses on the unique challenges of the financial services industry and is supported by state-of-the-art instruments, through the use of modern auditing software and advanced technology. The employees of BDO Financial Services have extensive experience in auditing leading companies in the financial sector – in Germany and internationally.
The BDO AG Wirtschaftsprüfungsgesellschaft is a founding member of the international BDO network (1963), which has more than 95,000 employees in 164 countries. For more information, please visit www.bdo.de.
Numerix is the leading provider of innovative capital markets technology applications and real-time intelligence capabilities for trading and risk management. Committed to out-of-the box thinking and the exploration and adoption of latest technologies, Numerix is dedicated to driving a more open, fintech-oriented, digital financial services market. Built upon a 20+ year analytical foundation of deep practical knowledge, experience and IT understanding, Numerix is uniquely positioned in the financial services ecosystem to help its users reimagine operations, modernize business processes and capture profitability. For more information, please visit www.numerix.com.
You can find the Numerix press release here.