Amoeba. Next generation performance.

What securities are currently covered? Equities, bonds, equity options, convertible bonds, preferred stock, convertible preferred stock, option embedded corporate bonds, treasury futures, eurodollar futures, interest rate swaps, credit default swaps, variance swaps, asset swapped convertible bonds, equity indexes, futures on equity indexes and equities, options on equity indexes, options on equity index futures, baskets of equities, options on equity baskets, volatility indexes, volatility index futures, options on volatility indexes, options on volatility index futures, bond options, swaptions, and user constructed combinations of any of the above.

What functionality does Amoeba have? Database editing tools to maintain the centralized security specifications database, any instrument can be created and edited by the user; calculators to look at each instrument individually; watchlists to look at groups of instruments arbitrarily defined by user; portfolio views to look at owned securities, also defined by user to have arbitrary levels of aggregation and filtering; scenario analysis views to see the effect of stress tests on any watchlist or portfolio view; bucketed rates hedge views to see the theoretically recommended hedge of any portfolio view or watchlist at any level of aggregation against any user selected set of rates hedging instruments; currency exposure view to see Fx exposures and P&L for any portfolio view; multiple-delta views to manage positions with multiple underlyings such as options on baskets.

What really sets Amoeba apart? The speed. Merely as an example: the term structured rates hedge views can be defined by selecting a set of instruments to hedge with from rates swaps, eurodollar futures, bonds and treasury futures. Then, upon saving the view, the result of the analysis comes back in a matter of a few minutes on the very largest books of convertible bonds or option embedded bonds (say) as a recommended position of each selected hedging instrument. Using Amoeba, traders can execute better trading techniques, such as wider searches for capital structure arbitrage trades and more accurately hedged arbitrage trades. Amoeba’s responsiveness to its users implies that risk analysis goes beyond overnight reports. Instead, users can create and modify their analyses and get results back within minutes instead of hours or overnight. This makes risk management a trading tool. Furthermore, the user can see the very biggest books of derivatives "tick" a minute or so behind the market as underlying equities, rates, credit and volatilities tick.

How is this remarkable speed possible? The application is designed to run most calculations at night, then the last and simplest steps run during the market open allowing the response time, to the market ticking, to be very fast at any aggregate level on the biggest books. But, more importantly, the response time to user initiated requests for analysis is also very fast. The most complex requests take a few minutes at most. This compares to the "overnight" aspect of most state-of-the-art risk systems. Amoeba is 100 to a 1000 times faster than this standard! Truly next-generation risk management.