Vancouver, BC (PRWEB) August 2, 2007
QuIC Financial Technologies Inc., a global solutions provider of risk management, pricing and financial analytics solutions, announced the successful implementation of an earnings-volatility solution for Man Group plc (Man), a leading global provider of alternative investment products and solutions, and one of the world's largest futures brokers.
"Man's Group Risk Department is responsible for generating a series of future earnings projection reports for its asset management division, Man Investments, to be included in risk reporting to the Group and Divisional Boards of Directors," explained Nigel Cairns, President and CEO of QuIC. "These analytics involve extremely sophisticated calculations and significant computing power. The client sought improvement in calculation speed and flexibility to increase their ability to perform "what-if" simulations of earnings distributions under various different sets of macro and micro economic forecasting assumptions."
The new solution developed for the Group Risk Department models complex asset, performance and fee structures and provides results in less than ten minutes for problems that previously required over 12 hours. The solution utilises the QuIC Engine™, a very fast vector-based calculation engine that underlies the QuIC Platform™. Said Cairns, "The entire implementation was completed on time and on budget, within the desired three-month timeframe. Performance improvements are as promised, if not faster."
The Group Risk Department is now equipped to provide senior management with regular "baseline" earnings distributions and also ad-hoc analysis of the likely impact on earnings volatility arising from possible major changes to the business or business environment (e.g. acquisitions, new lines of business or a major market event). These distributions can also now be stress-tested, something which was previously impossible.
About QuIC Financial Technologies, Inc.
QuIC is a global solutions provider for risk management, pricing and financial analytics. The QuIC Platform™ provides speed, accuracy and flexibility for pricing and risk calculations regardless of volume or complexity. QuIC technology delivers scalable, dynamically extensible and user-customizable solutions, by creating a seamless calculation fabric available to multiple recipients throughout the enterprise. The QuIC Product Suite™ easily integrates with in-house, partner and third-party applications & systems and operates in diverse environments, from a single laptop to large distributed grids. For more information please visit http://www.quic.com.
About Man Group and Man Investments
Man Group plc is a leading global provider of alternative investment products and solutions. The Group employs around 1,500 people in 13 countries, with key centres in London and Pfäffikon (Switzerland). Man Group plc is listed on the London Stock Exchange (EMG) and is a constituent of the FTSE 100 Index.
Man Investments is a global leader in the fast growing alternative investments industry. It provides innovative products and tailor-made solutions to private and institutional investors. Through its core investment managers - AHL, Glenwood, Man Global Strategies and RMF - Man Investments has succeeded in developing leadership in hedge funds and has interests in other asset classes. In its core hedge fund asset class, Man Investments offers fund of hedge funds, structured and style products. Its track record stretches back more than two decades and defines the standard for excellence in an industry whose central goal is to provide diversification away from traditional equity and bond investments. Man has a powerful global presence, supported by strong product development and structuring skills, and an extensive investor service and distribution network.
Marketing and Communications Manager
QuIC Financial Technologies Inc.
Tel: +1 604 689 1360, ext 127
Fax : +1 604 689 1361
julie.zuzek @ quic.com
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