Galapagos Structurer now available online
25 May 2006
Online access to Galapagos Structurer delivers automated spread enhancement to any CDO issuer
Galapagos Structurer, the optimization product from Codefarm that has transformed CDO structuring from a manual to an automated process with enhanced spreads, is now available online.
With a proven track record of saving resources and improving breakeven spreads, Galapagos Structurer has until now only been available as a customised, standalone product. The new online version ensures that any CDO issuer, irrespective of size, can implement next generation automated structuring within days.
Galapagos Structurer Online is easy to deploy because it incorporates the necessary computational infrastructure as well as pricing and rating analytics. It is also easy to use — the intuitive yet precise Galapagos Structuring Language enables CDO structurers and marketers to generate optimal deals within precise client and corporate constraints without needing to understand the complex stochastic optimization algorithms running under the hood.
“Galapagos Structurer Online has been successfully trialled with four active CDO—issuing banks and has built upon the success of the Galapagos Structurer Standalone version already widely used by market-leading issuers,” Jeremy Mabbitt, Managing Director of Codefarm explained. “With our continual developments of evolutionary computing technology, we are supplying the investment community with the next generation portfolio optimization software. It has been proven to outperform conventional techniques and is capable of structuring today ’ s most complex portfolio—based products. Delivering Galapagos Structurer Online means it is now available to any CDO issuer within days of contract signing.”
Galapagos Structurer Online comes with a desktop application that enables structurers to specify trades, connect online and perform optimizations. Each client accesses Codefarm’s secure compute grid facility via its own dedicated, externally-hosted Optimization Server. The service incorporates official rating agency models together with pricing models for CDOs and CDO—squareds from Reoch Credit.
Galapagos Structurer supports many CDO variants including variable notional, CDO—squareds, cross—subordination, CDOs of ABS, dual-ratings and forward start. In co-operation with leading issuers, Codefarm’s Galapagos development team regularly implements further improvements to optimization performance, introduces support for the latest product variants, and releases frequent updates which are available instantly to all online service customers.
The online version of Galapagos Structurer is available now on subscription.
About Codefarm Software Limited
Codefarm Software Limited is a financial software specialist deploying new optimization techniques to increase returns for investment banks and financial organisations.
Applying mathematical approaches based on evolutionary computing, Codefarm provides powerful new tools for tackling highly complex combinatorial and numerical modelling problems. Its Galapagos software harnesses the processing power of grid computing, rapidly delivering optimal solutions and evolving them to keep pace with changing market conditions. By targeting exact requirements without simplification or compromise, Galapagos automates manual processes and consistently outperforms other methods.
With a policy of recruiting high—calibre personnel who quickly grasp the complexities of new financial markets, Codefarm can rapidly tailor its products to client needs.
Codefarm’s growing client list includes many of the top investment banks and it is now a clear leader in maximising returns on structured derivatives products.
Codefarm is a privately-owned company with headquarters in Brighton, UK.
For more information, see www.codefarm.com.
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