Kondor+ Structuring Platform - Misys

Kondor+
Structuring Platform
accurate Pricing through innovation

Kondor+ Structuring Platform
IR Auto Cap
IR Flexi Cap
IR Chooser
IR Flip-Flap
IR Multi Libor
IR Time Spread
IR Cliquet
IR Steepener
IR Ratchet
IR Cancellable Range Accrual
Corridor
IR Cancellable Range Accrual
Double Barrier CMS
IR Cancellable Ratchet
IR Cancellable Range Accrual
Digital
IR Cancellable Conditional
CMS Spread
IR Cancellable Pyramid
IR Range Accrual
IR CMS SpreadRange Accrual
IR Chooser Range Accrual
IR Step-up Range Accrual
IR Range Accrual Ratchet
IR Wedding Cake
IR Snowball
IR Snowbear
IR Thunderball
IR Snowblade
IR Flip Snowball Range Accrual
IR Multi Benchmark Callable
Snowball Range Accrual
IR Target Redemption
2 Brochure
IR CMS Spread TARN
IR CMS Spread Floating Cap
TARN
IR CMS Spread Optimizator
TARN
IR CMS Spread Conditional
TARN
IR CMS Volality TARN
IR Range Accrual TARN
IR Range Accrual CMS Spread
TARN
IR Range Accrual CMS Cross
Spread TARN
IR Memory TARN
IR Memory Steps TARN
FX Wedding Cake
the structuring platform of Kondor+
FX Range Accrual
FX Accumultator
FX Recovery Forward
FX Barriers
FX Double Barrier
FX Multi Barrier
FX Boost Barrier
FX Window Barriers
FX Average Option
FX Fadder Option
FX Forward Option
FX Chooser Option
FX Corridor
FX Window Corridor
FX Booster Strike
FX Volatility
IR FX Hybrid Cross Currency
Range Accrual CMS Spread
IR FX Hybrid Quanto
Cancellable
IR FX Hybrid Quanto Snowball
IR FX Hybrid Quanto Target
Redemption
IR FX Hybrid Quanto Pyramid
IR FX Hybrid Quanto Multi
Benchmark Pyramid
IR FX Hybrid Quanto Multi
Benchmark Range Accrual
IR FX Hybrid Cancellable
Power Reverse Dual Currency
EQ Barriers
EQ Window Barriers
EQ Soft Barrier (Parisian)
facilitates the dynamic creation, pricing
and trading of financial products. from
quantitative modelling to back‑office
processing, it is the most complete
and accurate structuring platform
available on the market today.
EQ Forward Start Options
EQ Asian Strike Options
EQ Compound
EQ Global Cliquet
EQ Local Cliquet
EQ Double Barrier
EQ Cliquet Option With
Target
EQ Lookback Range
EQ Power
EQ Chooser
EQ Islamic
EQ Accumulator
EQ Basket
EQ Quanto Basket
EQ Basket Best of Options
EQ Basket Worst of Option
EQ Basket Altiplano
EQ Basket Everest
EQ Basket Polar
EQ Basket Step Up
EQ Basket Spread
EQ Basket LockIn
EQ Basket Dispersion
EQ Dividend
EQ Volatility
EQ Variance
EQ Option on Index Variance
EQ Basket Correlation
EQ Autocallable
EQ Autocallable Phoenix
EQ Principal Guaranteed
EQ Performance
EQ Outperformance
EQ Generalized Correlation
Structures
EQ Hybrid Autocallable
Phoenix
EQ Hybrid Sweet Reverse
Convertible
IR Auto Cap
IR Flexi Cap
IR Chooser
IR Flip-Flap
IR Multi Libor
IR Time Spread
IR Cliquet
IR Steepener
IR Ratchet
IR Cancellable Range Accrual
Corridor
IR Cancellable Range Accrual
Double Barrier CMS
IR Cancellable Ratchet
IR Cancellable Range Accrual
Digital
IR Cancellable Conditional
CMS Spread
IR Cancellable Pyramid
IR Range Accrual
IR CMS SpreadRange Accrual
IR Chooser Range Accrual
IR Step-up Range Accrual

Kondor+ Structuring Platform
DYNAMIC, INNOVATIVE & ACCURATE
The structuring platform of Kondor+ facilitates
the dynamic creation, pricing and trading of
financial products. From quantitative modelling
to back-office processing, it is the most
complete and accurate structuring platform
available on the market today.
in the aftermath of the financial crisis, demand
for structured products remains high. financial
organizations continue to create complex
structures to attract investors with higher returns
and capital protection. this demand, combined
with an uncertainty in the market and increased
regulatory pressures, has re‑emphasized the need
for accurate and robust pricing of all financial
products. financial organizations are reviewing
their structuring processes as they seek out new
ways to remain flexible while dealing with the
need for transparency.
Kondor+ has been designed to help organizations
rise to this challenge. it enables users to create the
most accurately priced financial products possible.
and it combines the full flexibility and openness
of a spreadsheet with the robust, high‑performance
attributes of an StP trading and risk management
system. its innovative approach to modelling
ensures that new structured products can be
developed and implemented within 10 minutes.
and by selecting Kondor+, customers will ensure
that they are deriving the maximum return on their
technology investment to date.
Kondor+ drives success
Transparent
• Easy – building
block approach
• Minimizes
operational risk
• Consistent
repeatable
process
Key benefits at a glance
• Speeds up time to market, keeping users
ahead of the competition
• enables the creation of the most accurately
priced financial products possible
• Supports financial innovation with a fully
flexible yet robust framework for the
rapid and dynamic creation, testing and
management of structured products
• true front to back integration
• ensures maximum return on your
it investment to date
“In our internal benchmarking
Kondor+ structuring
platform has continually
proved that it provides
exceptionally accurate pricing.”
Head of Treasury
asian Bank
Short time to market
• Speeds up innovation
• Maximizes windows
of opportunity
• No coding required
Innovative
• Flexibility of
a spreadsheet
• Encourages
new product
development
Brochure
3

Kondor+ Structuring Platform
INCREASE FINANCIAL INNOVATION AND
INDUSTRIALIZE PRODUCT DEVELOPMENT
Stay ahead of your competition
Instant front to back counterparty
limits and market risk coverage for new
products created with the structuring
platform of Kondor+.
No programming required, only mapping.
KONDOR+
STRUCTURING PLATFORM
DYNAMIC
DESIGNER
Fields
Pricing Models
Pricing Methods
Payoff Description
Manage any Event
About Kondor+
KONDOR+
AUTOMATICALLY
GENERATED
ON THE FLY
INTEGRATED
TRADING
Pricing
Simulation
Deal Entry
Greeks Per Risk Source
Back Office Integration
VaR Integration
Kondor+ is a fully integrated, cross‑asset front‑
to‑back trading and risk management solution
that allows customers to manage all of their
global trading activities in real time on a single,
flexible and extensible platform. Kondor+
includes automated trade processing, powerful
risk analytics, real‑time credit risk, market risk
and limit management as well as back‑office
settlement and accounting.
Kondor+ innovative modular construction
and customizable interfaces ensure that you
can tailor it to meet both the user’s and the
organization’s specific needs. the system’s
open and flexible structure is uniquely
designed to ensure that you can derive
maximum value from your existing systems
while continuing to build on the latest
technological advances.
traditional system requirements for ‘flexibility and
speed’ have caused a number of organizations
to select spreadsheets and ‘add on’ toolkits to
support their structuring efforts. But this approach
is now being questioned. in a rapidly changing
market, the risks posed by ’adhoc solutions’ can be
significant. the lack of transactional robustness,
event management and audit trail capabilities
means that spreadsheet‑based structuring can be
incredibly unstable, potentially exposing users to
serious operational risks. companies are trying to
address this challenge with modern ‘industrialized’
platforms more typically found in core StP trading
systems. these systems are well placed to provide
robust transactional processing, but they also bring
their own challenges; the implementation of a
single financial product can take months.
the structuring platform of Kondor+ solves this
problem by providing an integrated solution for
the entire structured product life‑cycle, from front‑
office trading to settlement in the back office. it
provides users with the flexibility required for
modelling, data management and stress testing,
while ensuring that every trade is booked and
captured using existing Kondor+ functionality,
automatically managing risk relating to cash flows,
liquidity and var. our new ‘Structured Product
designer Wizard’ and an easy‑to‑use graphical
interface work together to improve user
effectiveness providing an unbeatable tool for the
rapid modelling of exotics and structured products.
this combination of a dynamic and flexible
approach to structuring will ensure that traders can
stay ahead of their competition by maximizing any
windows of opportunity presented by the market.
as a fully integrated module of Kondor+, once a
new product has been developed in the structuring
platform it can be immediately traded, analyzed in
reports (P&l, risk, var, limits) and processed in the
back office.
Brochure
5

Kondor+ Structuring Platform
DYNAMIC, INNOVATIVE & ACCURATE
Accurate pricing and effective
risk management
a greater emphasis on risk in financial markets has
changed the framework and environment in which
structured products are developed. one of the
questions firms ask themselves today is ‘how to
ensure that models and financial products are
developed as accurately and diligently as possible?’
the seamless integration of Kondor+ with numerix
libraries allows customers to benefit from access to
a number of market‑leading pricing models.
uniquely, this integration also gives you open
access to the core numerix scripting language.
this new approach to financial product creation
allows the structure description to be decoupled
from pricing. this means that pricing can now be
adapted so that it is event‑driven, rather than
being locked away in a black box. By using the
structuring platform of Kondor+ users have total
control of the valuation process.
Reduce time to market and costs
the structuring platform of Kondor+ is designed to
be fully customizable, giving you the opportunity to
shape and mould the application to meet all of
your structuring needs. its unique ‘building block’
approach to construction greatly reduces the time
and skills needed to get new products to market.
By leveraging standard templates, Kondor+
provides a quick, low cost and proven method for
producing new high margin and capital guaranteed
products.
Because the structuring platform is a fully
integrated module of Kondor+, all standard
workflows are already in place. Without any
additional development, new structured product
trades will immediately be processed in the back
office with full integration into your P&l, risk reports
and var. the combination of an innovative and
constant approach, using a single pricing library,
true front‑to‑back integration and var integration
combine to increase effectiveness, reduce time to
market and total cost of ownership. Providing users
with a higher return on their investment.
moreover, because the platform is open and
flexible it supports both external and internal
pricing libraries. a simple mapping allows the
use of proprietary libraries and extend bespoke
pricing capabilities to support any number of
exotics and structured products.
“You have total control
of the valuation process.”
Franck Rossi
Product manager
By selecting Kondor+ structuring platform,
existing Kondor+ customers can leverage
their investment while reaping the benefits
of standardizing their software with Kondor+:
reliability, lower maintenance costs, high
quality local support and turaz ongoing
commitment to customer driven innovation.
Kondor+ unique ‘building
block’ approach to
construction greatly reduces
the time and skills needed to
get new products to market
Brochure
7

TURAZ’S RECENT MARKET RECOGNITION
Number One Overall Technology Vendor
Number One Trading Systems – cross asset
Number One Trading Systems – fX
Number One Pricing and Analytics – infl ation
BEST TRADING SYSTEM VENDOR RISK MAGAZINE
RISK 20 AWARDS
About Turaz
turaz is the leading provider of trade and risk management software globally. it employs over 1,000 skilled professionals serving
more than 600 fi nancial institutions across 66 countries. Some 25,000 fi nancial professionals rely on turaz’s fl agship products
including Kondor+, Kondor trade Processing (KtP), Kondor global risk (Kgr) and topoffi ce to trade and proactively manage
risk across the enterprise.
founded in 1992, turaz was acquired from thomson reuters by vista equity Partners in January 2012.
for more information please visit www.turazglobal.com
© turaz 2012. all rights reserved. 48001288.
NUMBER ONE RISK TECHNOLOGY PROVIDER 2009 & 2010
RISK TECHNOLOGY RANKINGS 2010
Number One Overall Technology Vendor
Number One Support Services –
implementation effi ciency
Number One Trading Systems Front-to-Back
O f fi c e – foreign exchange
Number One Trading Systems Front-to-Back
O f fi c e – interest rates
Number One Risk Management – Back offi ce
BEST VENDOR FOR DEALING TECHNOLOGY
FX WEEK BEST BANKS AWARDS 2010
Number One IAS Compliance
Number One Pricing and Analytics – fX
Number One Pricing and Analytics – rates
Number One Risk Aggregation – market,
credit, counterparty, liquidity, operational
NUMBER ONE RISK TECHNOLOGY PROVIDER 2008, 2009 & 2010
ASIA RISK TECHNOLOGY AWARDS 2010
Number One Risk Management –
credit risk management
Number One Trading Systems Front-to-Back
O f fi c e – hybrids/cross‑asset class
Number One Derivatives Pricing and Risk
Analytics – interest rates
Number One Derivatives Pricing and Risk
Analytics – hybrid/cross‑asset class
Number One Derivatives Pricing and Risk
Analytics – credit