Press Release
Principia Adds Intex Performance Data to Structured Finance Platform
New York, NY October 5, 2010 - Principia Partners, the leading solution provider for the management and administration of structured finance investments, today announced its integration of Intex performance data into the Principia Structured Finance Platform (Principia SFP). Intex Historical Collateral Performance Data for an extensive range of measures, including delinquency, loss and prepayment rates for over 23,000 Intex modeled RMBS, ABS, CMBS and CDO deals, can be accessed from the platform. Principia SFP users can more efficiently reference and make use of Intex information with a single software solution that consolidates the specific investment analysis, risk surveillance and accounting requirements of structured finance investments.
Principia SFP users can overcome the challenges of accessing and monitoring pool performance data from multiple sources, and comingle third party data with proprietary deal analysis. Key indicators of collateral performance such as default, prepayment and delinquency rates can be tracked over time and the details of any specified collateral stratification displayed on request for initial investment analysis and ongoing risk surveillance. For portfolio and risk managers, less data mining is involved to view any slice of a portfolio and generate powerful queries regarding portfolio composition and overall performance. With this level of transparency and control, investors can readily carry out benchmarking tests across tranches to better ascertain relative value, maintain compliance with investment guidelines and flag underperforming assets.
Intex and Principia believe in the importance of delivering the information and analytical tools structured finance investors need to make sound investment decisions and gain an ongoing understanding of their portfolios, said Jim Wilner, Vice President at Intex. With Intex cashflow and performance data now automated in Principias end to end infrastructure, mutual clients can streamline the processing of Intex data on an operational backbone to manage their entire structured finance business and address impending regulatory requirements.
The performance data adaptor follows earlier integration of the Intex Deal Model Library and associated cashflow waterfall models into the system. As a result, cashflows for Intex monitored deals can be accessed on-demand and analyzed directly from Principia SFP, reducing the need to use multiple spreadsheets and databases. The entire structure of any given deal can be modeled to see the effect of a waterfall on cashflows to any selected tranche. Investors can be more proactive in their investment analysis and risk surveillance with the ability to plug in forecasting assumptions based on current and historical performance data. Prepayment, delinquency, default or recovery rate assumptions for example, can be used in cashflow calculations to project future deal performance. With a single modeling framework from front to back office, assumptions and valuations flow seamlessly through to financial accounting and investor reporting, ensuring accurate and consistent data processing.
Douglas Long, EVP, business strategy at Principia Partners said: This link to Intex is part of our ongoing
drive to deliver the most comprehensive, standardized platform for the end to end management of
issuance, performance and cashflow data for structured finance investors. Issuers in Europe and the US
are increasingly having to disclose information on every aspect of new deals, from loan information to
waterfall behavior. Principia SFP gives investors a single platform to consistently integrate and
effectively manage this data in all its forms to ensure due diligence in the oversight of their portfolios.
About Principia
Principia Partners LLC (Principia) provides a comprehensive single platform solution for the end-to-end management of structured finance investments. Global financial institutions and independent asset managers have used the award winning Principia Structured Finance Platform since 1995 to unify investment analysis, portfolio management, risk surveillance, accounting and operational control across the breadth of structured credit assets, fixed income investments and complex derivatives.
For over 15 years Principia’s mission has been to help investors independently address the deal specific investment and cashflow analysis, valuation, risk management, reporting and due diligence requirements of structured credit investments and portfolios. Its dedicated support and continued development of functionality for structured finance instruments is accompanied by a proven and fully integrated derivative valuation framework. This overall credit investment and market risk solution delivers the robust backbone necessary for deeper investment analysis, proactive risk surveillance and operational control across the credit investment business.
Principia is based in New York, with an office in London and a technology center in Conshohocken, Pennsylvania. Principia SFP was awarded the Credit Technology Innovation award by Credit magazine in 2008, 2009 and 2010.
About Intex
Intex Solutions, Inc. is a global provider of structured fixed income deal models and cash flow analytical solutions. Intex models and maintains an industry-leading deal model library of over 23,000 RMBS, ABS, CMBS and CDO deals issued in North America, Europe, Japan, Asia, Australia and elsewhere around the globe.
Leading investors, investment banks, broker dealers, issuers and other parties to the transaction rely on Intex for trading, portfolio management, risk management and other applications. Intex provides a variety of specialized applications for cash flow stress testing, price/yield generation, collateral performance analysis and deal structuring under user-defined prepayment/default scenarios; these applications include INTEXnet, INTEXdesktop, the INTEX Subroutines and INTEX DealMaker.
In addition to these Intex-developed applications, Intex has partnered with many other third-party vendors who have integrated Intex's cash flow functionality into their applications.
Intex is headquartered near Boston, and supports its many international clients with staff and representatives in London and Tokyo. To learn more, visit Intex on the web at http://www.intex.com.
For press information contact:
Principia
Ben Jarrold
jarrold@ppllc.com
+44 (0) 20 7618 1370
www.principiapartners.com