Toronto, April 13, 2021 – Riskfuel has been awarded the Best Sell-Side Newcomer award by leading industry journal WatersTechnology for its revolutionary AI technology used in the capital markets to accelerate legacy derivatives valuation models.
Riskfuel is rapidly gaining traction with its novel use of deep neural networks to eliminate a problem that has long plagued the capital markets: slow and expensive-to-run financial models required to calculate the prices and risks of derivatives portfolios. Formed just two years ago, Riskfuel technology is already employed in production environments where it gives its users significant advantages when competing for new deals and in the management of portfolio risk.
Riskfuel’s AI-powered technology accelerates valuation models for over-the-counter (OTC) derivatives, a $500 trillion market that includes interest rate swaps, credit default swaps, and structured products that are not traded on exchanges. Riskfuel accelerates a firm’s own in-house models to near real-time. Faster models allow traders and risk managers to make decisions based on current market conditions rather than relying on numbers calculated the night before using yesterday’s market data.
“Until now, the only appreciable way to speed up model calculations has been to throw hardware at the problem and there is a limit to how much a firm can spend on compute,” explains Riskfuel CEO Ryan Ferguson. “We speed up models by making the models themselves more compact, more efficient. And by speed up, I mean a million times faster. Now firms can have fast models and reduce their computing spend at the same time.”
This is not the first time Riskfuel has been recognized as an innovator. Recently, Riskfuel won Innovator of the Year by the Futures Industry Association (FIA) and earlier this year, Scotiabank was awarded Technology Innovation of the Year by Risk Magazine for a new XVA system that employs Riskfuel-accelerated models.
WatersTechnology provides insight and analysis on technology and data that investment banks, exchanges, asset managers, regulators and vendors use to manage their day-to-day operations and inform their decision making in their roles. The Sell-Side Technology Awards recognize the leading technologies and third-party vendors that enable global sell-side firms to operate more efficiently.
Riskfuel is a capital markets technology company using AI to accelerate valuation and risk sensitivity calculations. Founded in 2019 by capital markets experts, the company provides valuation solutions to banks in North America and Europe with use cases covering XVA, Risk, and Front Office analytics.
For more information about Riskfuel, visit our website at https://riskfuel.com.