Numerix, a provider of cross-asset analytics for derivatives valuations and risk management, has acquired TFG Financial Systems, a real-time risk, P&L, and position management system, helping expand its focus into the buy-side space.
Per the acquisition, TFG Complete, the group’s flagship cross-asset real-time risk and portfolio management solution, will be rebranded as Numerix Oneview Asset Management. The new unit will help provide Numerix with a turnkey SaaS-based front-to-back office solution, whilst working with a range of new buy-side institutions, such as hedge funds.
In addition, TFG’s graph technology will also be integral to future and developmental versions of the Numerix Oneview enterprise platform. Numerix Oneview. The acquisition also represents and important stroke for Numerix, which will look to solidify its stance as an independent provider of real-time trading and risk via a singular source of data and analytics for front and middle office risk.
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According to Steve O’Hanlon, Chief Executive Officer of Numerix, in a statement on the acquisition: “Built on a real-time, distributed, fault tolerant, event-driven calculation framework with dynamic directed graph technology, TFG is a state-of-the-art software built for real-time systems. Numerix and TFG are already synonymous with fast, robust and scalable products; in 2017 we are focused on continuing to grow and evolve our world class systems.”
“With an established track record and strong brand reputation, Numerix will allow us to take our solutions to a more diverse client base and be leveraged to address a wider range of market needs. TFG personnel bring decades’ worth of market knowledge across risk management, development and performance technologies,” noted Barry Fenwick, Chief Executive Officer of TFG.
“The deep practical knowledge, experience and IT understanding of our joined staff will give us unique insight into recognizing opportunity for our clients. We’re proud to be part of the global leader in risk technology, and the role we’ll have in the future of Numerix Oneview.”