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Numerix Provides UTS With Full-Featured Software Licenses
Published on 24 Mar 2010

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Postgraduate finance students at the University of Technology, Sydney (UTS) have a new window to the real-world operations of the OTC derivatives markets thanks to the support of Numerix.

The company has provided UTS with full-featured software licenses for use in teaching and non-commercial research, an in-kind contribution to the University worth more than one million dollars per year in licensing fees. Director of the Quantitative Finance Research Centre (QFRC) in the UTS Faculty of Business, Professor Erik Schlögl:

"The software would be used in teaching in the Master of Quantitative Finance (MQF) degree, an advanced degree for quantitative analysts, traders, risk managers and financial engineers. These are graduates that are already in high demand, with a 100 per cent graduate employment rate from the MQF on the most recent data available, even during the financial crisis."

"We are both pleased and excited to be able to make this software contribution to the University of Technology, Sydney, in support of their Master of Quantitative Finance degree program. The opportunity for Numerix to contribute to the training and education of the future quantitative analysts, traders, risk managers and financial engineers of tomorrow is a tremendous honor for us," says Numerix President and COO Steven R. O`Hanlon. "Using Numerix CrossAsset as part of the MQF degree program will perfectly complement the already excellent theoretical training that MQF students receive to produce well-rounded graduates who can be immediately productive in a practical work environment whether it be on a trading desk or providing quantitative support."

Senior Quantitative Analyst in Market Risk at the National Australia Bank and an Adjunct Professor at UTS, Dr. Alan Brace, said that besides traditional models Numerix contains many models close to the cutting edge on which "consensus has been reached, bugs ironed out, and calibration issues sorted."
"So UTS students in the MQF degree can not only practice on industrial-strength software, but are also assured of a disciplined framework in which to learn the mathematics of appropriate and up-to-date models," says Dr. Brace.

Professor Schlögl said the alliance with Numerix allows UTS to further strengthen the position of its MQF program as a serious competitor among programs of this type at leading universities in North America, Europe and Asia.

"On the research front the implementation of all standard financial market models in Numerix CrossAsset XL will allow QFRC researchers to benchmark their own research against existing models, under actual market conditions," says Professor Schlögl. *


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