Its modular design can be tailored to deal with individual trading requirements from standalone option pricing screens through to fully integrated, multi-user network environments, encompassing everything necessary for effective risk management. Its easy to use and flexible design also means that Opval can be easily integrated into your established technology infrastructure for maximum operational synergy and efficiency.

Options pricing and deal entry

Opval's Pricing Module is a "must have" for any professional options trader. Its easy to use, no nonsense layouts provide all of the information you need to quote exchange traded, OTC and exotic options accurately and efficiently. The intuitive screens support pricing of single and multiple maturity options, collars and user-defined strategies and premium and sensitivity stress analysis matrices.

In particular, it enables quick and efficient pricing of various types of options, including Vanilla, Asian, Compound, Barrier and Spread options, and includes a variety of pricing screens for the calculations of single expiry date options, calendar strips and Min/Max style options. In addition Price, Time and Volatility series can be created to view changes in option premium relative to the incremental change in any of these variables.

All deal activity and changes to reference data are fully auditable and bi-directional transaction data streams allow mirroring of trade activity for easy reconciliation across systems, ensuring that you always have complete system and data integrity.

Portfolio management, risk analysis and reporting

To support the diverse nature of your front, middle office and management reporting needs, Opval includes a powerful, integrated report writer to allow easily configurable user risk and deal management reports in a variety of formats, displaying results tailored to the users' own specification.

Evaluation prices are entered manually or can be downloaded from various sources. Deal input is achieved by either manual entry or downloaded from a specific framework throughout the day. As a result, at the push of a button, Opval can instantaneously apply changes to forward curve and skew structures to risk reports in order to produce accurate positional and financial values.

Pre-configured risk management reports allow the selection of specific data fields, for the viewing of a portfolio in its entirety or for any of its user-defined components. Detailed reports monitor current positions giving marked to market Profit and Loss (P&L) results and option derivative values.

Matrix reports allow incremental changes to be made to market variables (Time, Volatility, Price and Interest Rate) enabling stress testing of current positions for single transactions or global portfolios, displaying results as both absolute or change from zero. Weighting factors can be applied to prices and volatilities on all matrix reports, enabling the immediate alteration of the pivot price while maintaining the forward curve. 'What if' scenarios can be run on test strategies to gauge performance under simulated market conditions, before being merged with existing live data.

A formalised P&L reporting procedure gives a comprehensive breakdown of business activity on a day to day basis, displaying financial results for Day, Month and Year

Once created all reports can be saved and combined in "books" that are archived for instant recall at any time. Workflows can also be streamlined and operational efficiency increased with Opval's built-in macro functions. A wide range of common tasks and activities, such as overnight runs and end of month procedures, can be grouped together to be activated on demand, or schedule by an external process at any given time.