Luzerner Kantonalbank AG Running Structured Notes Business on Numerix Oneview for Trading
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LUKB is leveraging Numerix’s cutting edge analytics to price structured notes accurately in real-time, and to distribute tradeable bids/offers prices.
Numerix, the leader in risk technology, announces its Oneview for Trading solution has been deployed at Luzerner Kantonalbank AG (LUKB). A complete real-time infrastructure for structured note issuance and management, Oneview for Trading empowers institutions to aggressively grow and confidently manage their structured note business.
As a leading bank in Central Switzerland, LUKB saw an opportunity in its local market to establish the bank as an important structured note issuer. To build out this new line of business, LUKB needed a technology provider to compliment its existing capabilities for both introducing new product types and distributing tradeable note prices to local exchanges in real-time. Numerix was selected as the technology vendor to help the bank develop a comprehensive solution that could be customized to meet its specific needs.
“Making the economics of the business work was a high priority for us as high costs and low volumes could result if structured note issuance and management was handled manually,” said Claudio Topatigh, Head of Competence Center Structured Products at LUKB. “As such, it was important for us to build out a flexible solution with strong structuring capabilities that could accelerate time-to-market for new products, something that can be especially difficult given the complexity of the notes, but essential if we were to meet market demand and compete with state-of-the-art issuers. Not only were we able to reduce time-to-market but have been able to gain brand awareness in a mature market with established competitors.”
In addition to being able to add new trade types and the ability to produce real-time tradable prices, lifecycle management of all trades is automated in the solution and tailored to the Swiss market. Risk calculations are performed in real-time and displayed in intuitive ways to support better hedging and risk decision-making. Automated workflows between Sales and Trading helps Sales quote faster and more accurate prices for the bespoke structures clients want.
“We are pleased to support LUKB as they’ve successfully gained a foothold in the Swiss structured product market,” said Steve O’Hanlon, CEO of Numerix. “The underpinning analytics of Oneview and the flexible architecture of the platform enabled us to deliver in relatively short order a real-time front-to-risk solution for LUKB to capture market opportunity by delivering speed, accuracy and flexibility from structuring and pricing to hedging, risk analysis and lifecycle management. If we fast forward to today, knowing Numerix technology is what sits behind tick-by-tick prices on structured note securities quoted to the SIX Swiss Exchange and OTC-market, it is extremely rewarding to see.”
The Oneview for Trading module is part of a powerful platform of dynamic microservices. Numerix also delivers Oneview front-to-risk applications for XVA, market risk, margin and regulatory calculations, in addition to providing end-users with the customized business logic and development tools needed to build their own capital markets apps.