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ABS Trader Tools
Thetica Systems offers a suite of powerful tools that provide structured finance professionals with a competitive edge through fast and efficient access to market information when they need it most. It provides the ability to analyze bond sensitivity and to price large quantities of bonds with speed using any forecast model's output vectors.
This powerful system is flexible enough to meet the growing demands of your trading desk. It easily automates most of the manual labor that traders normally have to slog through. Our 'smart scenario language' allows traders to quickly run complex scenarios on many bonds at once, without using up the horsepower of their machines, thanks to the system's grid computing configuration. As Intex partners, we are able to match your results perfectly with the figures you get from Intex.
ABS Explorer is a set of high-performing Excel workbooks which permits the user to rapidly analyze and compare lists of ABS, CMBS, CDO and CLO bonds.
Underneath the hood, the system is composed of various Thetica Systems software components that process information from various data vendors into a central SQL Server database. The exact configuration of these components depends on which data any given client is subscribing to. The basic package includes loading all Intex data, after which additional modules can be integrated into the system to add data from sources such as Loan Performance, Trepp, Bloomberg, Black Box, etc. This tool is very easy to customize and is tailored to client's specific needs including integration with any existing database or process.
Each night we run custom bond and collateral level calculations and provide users with an easy way to quickly analyze this data during the day when needed.
It has been our experience that combining these various data sets with the ABS Explorer front-end Excel workbook and configuring these capabilities for each firm's individual needs, gives structured products professionals a much greater ability to get their hands directly on the information relating to ABS securities than ever achieved previously.
Naturally, ABS Explorer fully integrates with ABS Analytics.
Easily capture color from various sources into a database and view those quotes in an easy-to-use spreadsheet interface in order to mine market activity in any of the cusips your firm is interested in. For example, dealer inventory spreadsheets are easily and daily parsed and saved to a database using our system. This can enable you to get a much better feel for market knowledge concerning the securities you're interested in.
By combining the best of both data vendors, the IO pricer enables you to combine the Intex capital structure data and Loan Performance loan-level information so that you can easily project out losses for distressed ABS securities and see how those losses will impact the capital structure from the bottom up and what the prices of these "interest only" distressed securities will be over time. This application permits you to flexibly adjust any prepayment speeds as well as the timing of collateral losses due to various factors such as foreclosure and REO timelines, loss severities down to a state level for your trading group overall or on a trader-by-trader basis.