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25 Jun 2007
Breaking its usual pattern of going it alone, Bloomberg has partnered with analytics firm NumeriX to offer clients the ability to use an integrated pricing and risk platform that functions with Microsoft Excel. Joseph Saporito, senior v.p., global business development, NumeriX, told InstitutionalInvestor.com that Bloomberg approached the company over two years ago, looking to collaborate to market its calculator tools amid a market saturated with financial application vendors. “It turned from a tactical relationship to a strategic one, when in July 2006, we signed as a partnership,” Saporito said.
Numerix, which according to Saporito plans to open a Hong Kong office during the next quarter and has interest in China and India, offers three products: a library of numeric and analytic functions; its mainstay product, Numerix6, featuring an XXL interface based on Java and C++; and the Numerix Portfolio built on .NET and SQL. The company says its products can be used to structure exotic deals, whether they include fixed income, credit, foreign exchange, equity or inflation, and says its compatibility with Excel is appealing to bankers as they are comfortable with the MS spreadsheet app.