About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

SciComp Releases SciFinance Version 5.0 with Added Functionality for OTC Derivatives Pricing

Subscribe to our newsletter

Derivatives valuations software vendor SciComp has released a new version of its flagship SciFinance pricing software solution, which it claims will help quantitative developers shorten model development time and create models with faster execution speeds. Version 5.0 of the software has been altered to reflect the new market conditions and new OTC derivatives, says Curt Randall, executive vice president of the vendor.

“New OTC contracts or new market conditions require new pricing models, and our customers must respond by producing models rapidly, but with the attention to detail required for accurate results. SciFinance was developed to replace days or weeks of error prone hand coding and debugging; it automatically generates C or C++ pricing model source code in minutes,” claims Randall.

The current market requires expedited model development and faster execution speeds for derivatives pricing models, he explains. To account for this, SciFinance 5.0 features generation of parallel codes for Monte Carlo pricing models that run up to 30 to 200 times faster than serial code, according to the vendor. This acceleration is achieved by taking advantage of the highly parallel structure of high-end Nvidia graphical processing units (GPUs), adds Randall.

“Our customers can benefit immediately from SciFinance’s new ability to generate CUDA-enabled code. Without having to become experts in parallel coding, they can quickly create code that delivers up to 200X execution speed increases. A single PC equipped with several relatively inexpensive Nvidia GPU cards can replace many racks of blades with a single box, reducing physical footprint and energy consumption by large factors,” he elaborates.

The vendor will also be providing support for partial differential equation (PDE) models later this year with the addition of a more concise specification dialect in the form of SciXpress. This dialect shortens even the most complex pricing problems to a few dozen lines, claims the vendor.

SciFinance 5.0 also includes the ability to automatically create OpenMP parallel code for Monte Carlo pricing models. Nearly all modern desktop computers have multiple CPUs, usually from two to eight, while workstations may have many more. The synthesised parallel code is compliant with the OpenMP standard and with existing Windows and Unix compilers. It executes in the multi-processor environment with nearly linear speed-up, for example a factor of 3.9X on a quad-core PC or 22X on a 24 CPU workstation.

Subscribe to our newsletter

Related content

WEBINAR

Upcoming Webinar: How to organise, integrate and structure data for successful AI

25 September 2025 10:00am ET | 3:00pm London | 4:00pm CET Duration: 50 Minutes Artificial intelligence (AI) is increasingly being rolled out across financial institutions, being put to work in applications that are transforming everything from back-office data management to front-office trading platforms. The potential for AI to bring further cost-savings and operational gains are...

BLOG

Scalability the Keyword Behind S&P Global’s Enriched iLEVEL

S&P Global Market Intelligence’s update to its iLEVEL private markets data tool has been designed to enable firms to scale their engagements in private markets. The financial data company is betting that financial institutions’ growing engagement in these markets is such that they will need the sort of data provisions associated with public markets. S&P...

EVENT

Data Management Summit New York City

Now in its 15th year the Data Management Summit NYC brings together the North American data management community to explore how data strategy is evolving to drive business outcomes and speed to market in changing times.

GUIDE

AI in Capital Markets: Practical Insight for a Transforming Industry – Free Handbook

AI is no longer on the horizon – it’s embedded in the infrastructure of modern capital markets. But separating real impact from inflated promises requires a grounded, practical understanding. The AI in Capital Markets Handbook 2025 provides exactly that. Designed for data-driven professionals across the trade life-cycle, compliance, infrastructure, and strategy, this handbook goes beyond...