Master of Science Financial Mathematics Students Gain Hands-on Experience with Numerix Software
New York, NY – April 23, 2014 – Numerix (www.numerix.com), the leading provider of cross-asset analytics for derivatives valuations and risk management, today announced that the University of Chicago has joined the Numerix Academic Partner Program. As aspiring quantitative, mathematics and financial engineering professionals learn foundational skills for pricing, modeling and managing complex financial instruments, the Academic Partner Program enables students to gain invaluable real-world experience through the utilization of Numerix’s cutting edge derivatives software.
Numerix software is now available to Master of Science in Financial Mathematics (MSFM) students through the University’s Program on Financial Mathematics. Examples based on Numerix software are included in several mandatory and elective courses on fixed income derivatives taught by full time faculty of the University and industry practitioners. As a result of the partnership, the students who will join the workforce as quantitative researchers and quantitative developers will be equipped with skills needed to provide impactful solutions during the challenging transition to the new industry standards.
“As a pioneer in training quantitative researchers for the financial industry, the University of Chicago Program on Financial Mathematics annually selects the most talented students and trains them in the best traditions of the University with specialization in financial mathematics,” said Yuri Balasanov, an industry veteran and Lecturer in Financial Mathematics at the University of Chicago. “Our mission is to train the impending workforce with new mindsets and fundamental quantitative backgrounds capable of rising to the challenge. We believe that by including Numerix in the curriculum we’re giving our students a platform for success.”
“After the global financial crisis the industry has been facing complex challenges as a result of new regulations, including standards for clearing and collateralization, and changing roles of interest rate benchmarks. The new reality requires revisiting the foundations of quantitative models used by derivatives markets and their assumptions,” said Steven R. O’Hanlon, Chief Executive Officer & President of Numerix. “Our partnership with the University of Chicago is definitely a win-win relationship. Not only are students being provided with the tools to develop solutions to challenging problems, but this collaboration gives Numerix an opportunity to reach students as they prepare to enter the financial industry.”
Numerix is the award winning, leading independent analytics institution providing cross-asset solutions for structuring, pre-trade price discovery, trade capture, valuation and portfolio management of derivatives and structured products. Since its inception in 1996, over 700 clients and 80 partners across more than 25 countries have come to rely on Numerix analytics for speed and accuracy in valuing and managing the most sophisticated financial instruments. With offices in New York, Sao Paulo, London, Paris, Frankfurt, Milan, Stockholm, Tokyo, Hong Kong, Singapore, Dubai, South Korea, India and Australia, Numerix brings together unparalleled expertise across all asset classes and engineering disciplines. For more information please visit www.numerix.com.