WINDSOR, Conn., May 5, 2021 /PRNewswire/ -- SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced an exclusive partnership with BRODA Ltd. to provide BRODA's high dimensional Sobol sequence generators to financial services firms. Sobol sequence generators are used in the risk and insurance domains to enable faster and more accurate calculations. SS&C has embedded BRODA's Sobol sequence generators within the SS&C Algorithmics suite of solutions to optimize risk performance.
"With growing regulatory demands and current pandemic environment, there is a clear appetite for Monte Carlo simulations as firms look to improve data-driven analysis cost-effectively. Our partnership with BRODA makes this revolutionary technology widely accessible," said Mina Wallace, General Manager, SS&C Algorithmics. "BRODA's high dimensional Sobol sequence generators enhance our risk offering, and they have the potential to impact risk and financial calculations industry-wide."
BRODA recently enhanced the methodology to increase the speed and accuracy needed for effective risk and analysis requirements at banks and insurance firms. Applications based on BRODA's advanced high dimensional Sobol sequence generators now converge in orders of magnitude faster than Monte Carlo based methods without loss of accuracy.
"We are pleased to partner with SS&C Technologies to bring BRODA's Sobol sequence generators to the financial services marketplace," said Sergei Kucherenko, Director, BRODA Ltd. "We have been providing solutions based on enhanced Quasi-Monte Carlo methods to banks globally for many years. With a constantly growing demand for high-accuracy, high-speed calculations, we believe these tested methods can benefit the broader financial services marketplace. SS&C is a leader in financial risk and analytics, and their deep knowledge of the market's needs can help us deliver optimal solutions."
To learn more about BRODA's high dimensional Sobol sequence generators and their application for financial services analytics, please click here.
BRODA supports all areas of information systems specializing in the development and marketing of innovative scientific software for the finance, risk management and insurance industry. BRODA's solutions based on advanced Quasi Monte Carlo methods enhance performance and precision. BRODA's high dimensional Sobol sequences generators over the last 20 years have become the industry standard in finance, risk management and insurance. BRODA's success formula has been coined by talented people using robust technologies to meet complex business requirements.
About SS&C Technologies
SS&C is a global provider of services and software for the financial services and healthcare industries. Founded in 1986, SS&C is headquartered in Windsor, Connecticut, and has offices around the world. Some 18,000 financial services and healthcare organizations, from the world's largest companies to small and mid-market firms, rely on SS&C for expertise, scale, and technology.
Additional information about SS&C (Nasdaq: SSNC) is available at www.ssctech.com. Follow SS&C on Twitter, Linkedin and Facebook.