SIMCORP

2011-07-01

XPRESSINSTRUMENTS, A SIMCORP DIMENSION MODULE BASED ON LEXIFI’S TECHNOLOGY

In the summer of 2006, SimCorp and LexiFi teamed up to achieve SimCorp’s goal of providing complete coverage for non-standard financial products within SimCorp Dimension, SimCorp’s integrated investment processing solution. SimCorp used LexiFi’s software and drew on LexiFi’s expertise to develop XpressInstruments, a SimCorp Dimension module designed to add full support rapidly into the system for derivatives and structured products.

In 2008, Operations Management—a U.S. trade publication focusing on operations within the financial services industry—named SimCorp “Vendor of the Year”, specifically for XpressInstruments. The publication recognized XpressInstruments’s potential for addressing operational risks stemming from the use of derivatives and structured products, which typically are managed on external spreadsheets or on a home-grown/in-house developed system.

The collaboration between SimCorp and LexiFi started with the successful integration of LexiFi’s software into SimCorp Dimension. However, it did not stop there: over the years, the partners have been working jointly to help clients address issues related to the description, valuation, risk management, and processing of derivatives and structured products. SimCorp and LexiFi also regularly share thoughts on a variety of topics ranging from financial engineering to theoretical and applied computer science.



"The relationship with LexiFi demonstrates SimCorp Dimension’s aptitude for exploiting new technology, such as LexiFi’s ingenious system for describing and managing complex financial products, and the robustness of LexiFi’s novel approach. We look forward to furthering our partnership with LexiFi to address the delicate challenges posed by financial product innovation."
Jørgen Vuust Jensen, Domain Manager – Financial Instruments at SimCorp



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LEXIFI PROVIDED KEY SOFTWARE INFRASTRUCTURE COMPONENTS TO SIMCORP, INCLUDING:

  • MLFi, a formal language for describing financial contracts, from inception to maturity
  • An open pricing architecture that clearly separates the various pricing-related data elements and services in order to support a variety of integration scenarios with existing valuation algorithms and calculation platforms
  • Proven implementations of both industry-standard and advanced pricing models
  • An innovative user interface generation component, which automatically derives a fully functional user interface from the economic parameters that define a MLFi contract
  • An integrated development environment that, when delivered as part of SimCorp Dimension, enables users to independently design new financial instruments

    SimCorp ably assimilated LexiFi’s concepts and implementation to enhance SimCorp Dimension’s support for non-standard financial products. Now the company is going a step further spreading the use of LexiFi’s technology and ideas to other parts of the application:

  • SimCorp opted for the technology and knowledge transfer program that LexiFi offers to partners who wish to acquire the tools and skills to become entirely autonomous
  • SimCorp’s engineering team has developed a new user interface generation system, derived from LexiFi’s original design, that will be extensively in SimCorp Dimension, well beyond support of complex products

  • QUICK FACTS
    Name: SimCorp
    Industry: Financial Software
    Revenue: EUR 454,5 million as of Dec 2019
    Website: https://www.simcorp.com

    ABOUT SIMCORP
    Founded in 1971, SimCorp has many years of experience in developing state-of-the-art software. More specifically, Simcorp provides investment and portfolio management software and related services to top-tier investment managers, asset managers, fund managers, fund administrators, pension funds, insurance funds and wealth managers. SimCorp’s product, SimCorp Dimension, supports a comprehensive set of investment management processes from the front office to the back office. SimCorp Dimension helps SimCorp’s clients to reduce their operational costs, mitigate risk in their businesses and it enables them to position themselves for growth.

    SimCorp is a trusted partner to the largest buy-side asset managers with more than 16,000 active daily users on SimCorp Dimension. More than 200 of the world’s most successful investment managers currently run SimCorp Dimension.

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