Business Daily from THE HINDU group of publications
Friday, Sep 21, 2007
ePaper
Business Daily from THE HINDU group of publications Friday, Sep 21, 2007 ePaper |
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Info-Tech
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Software Marketing - New Products & Services Markets - Derivatives Markets
Ionpot allows the user to price, save and mark-to-market various interest rates and forex derivative instruments. L.N. Revathy Coimbatore, Sept. 20 Pyxis Systems, an integrated software solutions provider in derivatives risk management, has launched ‘Ionpot’ — a Web-based solution for financial derivatives. The CEO, Mr Nandlal Bhatkar, said the company has, within a short span of three years, managed to develop its own derivatives analytics library. Asked what enthused him to look upon this space, Mr Bhatkar said: “Derivatives business requires people and system. Both are expensive. Take the normal standard derivative system used by banks. It could cost millions of dollars and again, one would need trained manpower to run the system. We have the domain knowledge. So we decided to position our solution in this space.” Targeting small playersThe promoters, Mr Bhatkar and Mr Sunil Nikhar, an IT entrepreneur, had small players in mind when they evolved Ionpot. “The smaller units have no access to software due to cost constraints. Ours is a Web-based solution. The system is transparent as far as pricing derivatives are concerned,” he said, adding that the OTC derivatives market lacked transparency. “Ionpot allows the user to price, save and mark-to-market various interest rates and forex derivative instruments. The solution can be accessed via the Internet. The user will not have to install or maintain expensive risk management infrastructure,” he said. Stating that the solution provided much more than a valuation calculator, he said: “One needs credible data in the valuation of such instruments. It should not be restricted to the model alone.” “We would be taking it to other (overseas) potential markets within the next six months,” Mr Bhatkar said. More Stories on : Software | New Products & Services | Derivatives Markets
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