RFP News

Published on Sep 14, 2009

Numerix was selected by Lehman Brothers Holdings Inc. (LBHI) to provide independent real time valuations in the large and comprehensive derivatives valuation project of its kind, to date.

The signing of Numerix is a critical step in unwinding LBHI’s derivatives book and the ultimate reconciliation of outstanding creditor claims. LBHI selected Numerix to accelerate the resolution of intercompany accounts and systems and resolve derivative claims.

The Numerix team of on-site financial engineers sit side-by-side with LBHI traders and risk managers and provide ad hoc, real-time valuation services along with software support and project management. Numerix is actively aggregating existing trade information from all of LBHI’s legacy systems onto a single platform – Numerix Portfolio – and providing independent valuations on the entire LBHI book. The selection of Numerix was approved by the U.S. Bankruptcy Court, Southern District of New York (Manhattan) in April of 2009.

"Lehman performed an extensive search to identify a partner that could provide the analytics and
technology capable to value the depth and breadth of derivatives products that were transacted in the
Lehman derivatives portfolios," says Daniel Ehrmann, managing director of Alvarez & Marsal and co-
head of LBHI’s Derivatives Asset Team. "It became clear that Numerix was best positioned not only to
provide LBHI with the valuations we need to resolve derivatives claims, but also to flex the market inputs and transaction terms to ensure that those valuations are reasonable."

“Numerix brings the best capabilities and focus to providing LBHI with a single platform and the analytics necessary for the ultimate resolution of its intercompany accounts and the integration of existing legacy systems. We are delighted to be partnering with the derivatives team on this important and exciting mandate,” says Steven R. O’Hanlon, president and COO of Numerix. *

0 comments Post Comment

Post new comment

The content of this field is kept private and will not be shown publicly.

Your name *
Your E-mail*

What code is in the image?*