Italian FinTech Startup Fairmat Introduces Financial Risk Assessment Web Service
Xignite, Inc., the premier market data cloud services provider, today announced that Fairmat SRL, of Verona, Italy, is powering its web-based financial risk service with Xignite market data. The web-based service provides on-demand, pay-as-you-go analytics for users lacking financial modeling skills, as well as those requiring infrequent risk and pricing analysis.
The recently introduced Fairmat Cloud service offers assessments of OTC and structured products for independent financial advisors, financial managers (e.g., hedge funds and private equity groups), funds specializing in structured products, and small-office audit and consulting practices.
The company created templates for the underlying models that generate valuations on generic contract categories, such as interest rate swaps, bonds, vanilla options, exotics and structured products. Clients can obtain risk and pricing assessments utilizing the templates or by querying the system’s built-in search engine to identify mapped public products.
“OTC and structured product markets are viewed skeptically because it is often difficult to gain access to metrics (e.g., price and risk) for such products,” says Matteo Tesser, Ph.D., founder and CEO, Fairmat. “Calculating those metrics requires the use of sophisticated mathematical models using assorted market data that must be calibrated.”
Xignite market data powers the array of sophisticated mathematical models that underpins the analytics. The Fairmat web-service utilizes Xignite real-time and historical quotes for currency exchange rates (FX), equities, index values, and interbank interest rates. Looking forward, the company believes that this cloud solution will raise the awareness of structured products, ultimately benefitting advisors, their clients, and the market as a whole.
“We went through a long process contacting vendors in our attempt to secure the data needed to deliver the Fairmat Cloud solution,” says Tesser. “The company integrated the market data in hours, rather than days, weeks or longer. Analytics require data, so the partnership with Xignite is a synergy.”
Download the Fairmat case study to learn more about this project.
About Xignite
Xignite, Inc. is the leading provider of market data cloud solutions. Xignite makes sourcing and integrating real-time and reference market data into apps and devices easy and more cost-effective than alternative data feeds. The Silicon Valley-based company is helping fuel FinTech innovation by powering web sites and apps for more than 1000 financial services, media, software and corporate clients, including FinTech standouts Betterment, FutureAdvisor, Personal Capital, SigFig, StockTwits, Wealthfront, Wealthminder and Yodlee. The company’s platform also powers private data distribution solutions for exchanges, market data vendors and financial institutions, including NASDAQ OMX, NYSE Technologies, Direct Edge and SIX Financial Information. For more information, visit http://www.xignite.com or follow on Twitter @xignite.
About Fairmat
Fairmat Srl is a company specialized in the analysis and assessment of financial (OTC) contracts. Fairmat offer consists in software solutions and services that meets the demand of flexibility and transparency arising in the financial risk management sector. With Fairmat Cloud, Fairmat is extending its offer also to non-institutional clients by offering an easy and affordable way to obtain independent price verification.