Our approach is different from any other provider in this market. If you’re a creative thinker whose best ideas just might break conventional tools, who needs more choice and flexibility, or who just doesn’t want to get locked into a siloed system, we specialize in serving you.
For those who price, analyze, evaluate, or compare structured finance bonds, the typical choices are to buy off-the-shelf or build in-house, whether new or adding to a legacy system. That’s fine if you’re plain vanilla or have unlimited budget, time, and resources. (Riiight.)
Please note that we do not offer a mass-market product that’s the same for everyone. We also don’t just sell consulting. Our unique strength lies in the powerful simplicity of our infrastructure and IP. So if you want a true alternative to the usual choices, take a look at these pros and cons.
The Same-Old Same-Old
Plug-and-play tools may get you started fast but unfortunately they are pretty much the same for everyone. Individual changes can be impossible or at best expensive if you have to pay extra to get them ahead of the release schedule. And they focus on specific bond types so you’ll likely end up paying more for multiple tools that don’t talk to each other.
A new in-house system might get you what you want, but only with plenty of time, budget, and knowledge. IT resources have tons of competing demands. The challenges of integration with market data and APIs add to your headaches, along with bug fixes and data issues. And after all that effort, you can still end up with a siloed system that doesn’t connect where you need it to.
Legacy systems: You already know their problems. Honestly, would you still keep them if you didn’t have to?
The Smart Alternative - Thetica Systems
Get the full transparency and flexibility you require. We integrate whatever internal or external models, scenarios, and complex calculations that you want. Building to your specifications on top of our proven infrastructure gets the job done in weeks, not months. And as a longtime and experienced partner, of course we match results with Intex.
Apply your specific business logic and insights to analyze bond characteristics, perform valuations, research collateral, and conduct surveillance. Feed custom data into tear-sheets and screeners; generate one-pagers and reports through a custom system that matches the way you want to work.
Our team has extensive experience creating pricing and analytics systems that perform to the most sophisticated requirements in the most challenging times. Clients benefit from rapid deployment and still get a fully custom solution that is different from what their competitors are using.
Benefits by Bond Type
Take advantage of opportunities and predict problems with tools that provide full transparency across bonds. Whatever your portfolio type, our customized tools give you a tremendous advantage compared to any off-the-shelf product. We integrate your specific business logic into your system, with the custom cashflow scenarios and models you choose. You have fewer headaches and delays thanks to our integration with your licensed data providers and maintenance of those connections. We deal with the unexpected changes — you don’t have to.
Whatever you can envision, we can help you implement. For example:
- Rapidly automate and produce numbers on anything that the trading desk currently runs manually
- From a user-friendly interface, use simple or complex scenarios to quickly produce cashflows and price/yield calculations
- Use both third-party models and internally-built scenario prediction models
- Receive real-time alerts on key market changes, right down to single bonds
- Add in custom feeds of bid list information, position information, etc., and make results available immediately to licensed users
- Access up-to-date market data, smart aggregates, reports and views needed by traders, sales people, research personnel, financial controllers, risk/regulatory reporting staff, and other downstream systems where needed
- See specific benefits below for CMBS, CLO, RMBS, and ABS portfolios or inquire for more details.
- Perform asset modeling with customized and detailed loan level screens
- See immediate results from running cashflows in your custom analytics views
- Parse BWICs and Bloomberg messages to your database by bid size, offer size, offer price, spread, rating, DM/WAL, etc.
- Create single-page detailed summaries, with asset stratification and breakdowns per deal
- Save all models to your secure database and run bonds automatically using them
- Conduct daily pricing batch runs on the entire CMBS universe or your portfolio with Excel and database reporting
- Monitor loan history to identify important developments
- Calculate collateral stats by specific fields you select
- Utilize any metrics you desire in the portfolio bond view
- Make fast and effective use of all licensed data fields according to your exact specifications
- Compare and rank bond metrics in a relative value grid
- Perform cohort analysis on bonds of interest
- Benefit from automated nightly price-yield matrix CLO universe runs
- Generate tear-sheets and one-pagers with custom contents and appearance
- Run bonds at deal level, loan level, or asset level
- View market color analysis by sector or tranche
- View cashflow detail by tranche
- Run multiple scenarios on the entire universe in the time it takes to get a coffee
- Dig into and compare collateral manager performance
- Make ad hoc corrections to European mappings
- Parse and filter Bloomberg messages, BWICs, offering sheets, and color
- Test to immediately see the effect of different prices on DM
- Run custom reinvestment and callability assumptions
- We can help you build a scenario model based on your requirements / guidance
- Our cloud engine can run a large number of calculations in a short span of time, no matter how complex or multi-step your calculations may be
- Easily automate and pre-calculate all the custom scenarios you want for different uses; apply them in overnight runs or ad hoc
- Perfectly tie out cashflow results to Intex
- Run multiple cashflow scenarios overnight on the entire RMBS universe and have the results ready for use at the start of each day
- Price reremics at child-deal group level
- View asset cashflows with full transparency; easily validate cashflow models
- Let our system parse, store, and process your BWIC emails
- Automatically alert traders or salespeople when color matches a bond in inventory
- Build your color database and distribute the information
- View market color analysis by sector or tranche
- Make fast and effective use of all licensed data fields according to your exact specifications by having direct access to your licensed data
- Get faster notice of refinancing and similar impacts on your portfolio
- Quickly isolate reremic child-deals with optional redemption features not in the parent deal
- Automate hierarchical scenarios for STACR and CAS to employ your chosen loss model on specific assets or switch automatically to default scenarios where vectors are not provided
- Customize and automate STACR and CAS analysis and reporting to your exact specifications
- Visualize effective delinquency rate graphically and make it immediately available
- Use the results to evaluate non-performing and re-performing loans; estimate bond price sensitivity; rapidly calculate spread and IR durations
- Easily use the full bond universe in your calculations
- Analyze and compare ABS deals with speed
- Instantly run any scenario you can think of
- Support special scenarios for student loan payment periods
- Predict the effects of economic changes on all your asset-backed securitizations
- Use one system to price and analyze all your structured finance products
- Save time on automating processes so you can concentrate on the rest of your work