Codefarm incorporates Moody's CDOROMtm model into Galapagos Structurer.
London, July 31 2007
Codefarm, the structured credit technology company, has now fully incorporated Moody's CDOROMtm model in Galapagos Structurer, the industry standard CDO optimization service.
Since its launch, Galapagos Structurer has been adopted by most of the top ten CDO issuers as well as by smaller CDO arrangers. Structurer incorporates market-standard ratings and pricing models with highly innovative technology to help CDO arrangers create high-yield CDOs in previously unheard-of timescales and within days of contract-signing.
“From their first deployment of Galapagos Structurer, customers can focus on what is important to them, the output, not the process,” explained Jeremy Mabbitt, Managing Director of Codefarm.“ We are delighted to be able to offer our customers seamless access to the highly popular Moody's ratings methodology.”
Mario Aquino, Head of Moody's International Markets Strategy, stated: “Moody's CDOROMtm is a Monte Carlo simulation model that allows users to assess the expected loss of synthetic CDOs. The speed and flexibility of Moody's model means that market participants can run multiple tranches or multiple attachment points and sizes for the same tranche simultaneously and apply Moody's analytics to a wide variety of synthetic CDO structures such as single tranche CDOs, Leveraged Super Senior, Forward Starting CDOs, CDOs of Nth-to-Default, Long/Short CDOs, CDOs of CDOs. We are pleased that Codefarm has chosen to integrate Moody's CDOROMtm into its product offering and enable our customers to use our ratings with such an innovative technology.”
By using evolutionary computing on a powerful highly secure compute grid, Galapagos Structurer automates the structuring of CDOs in a fraction of the time traditionally taken. The integration of credit ratings models like Moody's allows CDO arrangers to benefit immediately from this next generation structuring.
Media Enquiries
Stephen Fleming at Palam Communications
Tel: +44 (0) 1635 299116
Email: sfleming@palam.co.uk
Web www.palam.co.uk
General Enquiries
Galapagos Structurer
Lindsay Gardner, Marketing Manager, Codefarm
Tel: +44 20 70021423
Email: info@codefarm.com
Web www.codefarm.com
Moodys Structured Finance Products
Mario Aquino, Head of International Markets
Tel: +44 20 70021423
Email: Mario.aquino@moodys.com
Web www.moodys.com
Web www.moodys/sfanalyticmodels.com
About Codefarm
Codefarm is a technology company providing products and services to help customers achieve better returns in the structured credit market.
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
About Moody's Investors Service
Moody's Investors Service is a leading provider of credit ratings, research, and risk analysis. Moody's commitment and expertise contributes to stable, transparent and integrated financial markets, protecting the integrity of credit.The firm's ratings and analysis track debt covering more than 100 sovereign nations, 12,000 corporate issuers, 29,000 public finance issuers, and 96,000 structured finance obligations. Moody's also publishes credit opinions, research and commentary, serving more than 9,300 customer accounts at some 2,400 institutions around the globe. Moody's Investors Service is a subsidiary of Moody's Corporation (NYSE: MCO), which reported revenue of $2.0 billion in 2006, employs approximately 3,400 people worldwide and maintains a presence in 27 countries. Additional information about the company is available at www.moodys.com.