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MBRM
MBRM - MB Risk Management
29 Throgmorton Street
London EC2N 2AT
United Kingdom

Email: sales@mbrm.com
Phone: +44 20-7628 2007
Fax: +44 20-7628 2008

MBRM PRESS RELEASE
http://www.mbrm.com

Oct 1997

Setting a new industry standard for accuracy, speed AND price

Mamdouh Barakat Risk Management (MBRM) are pleased to announce the launch of a new system for the pricing and risk management of Convertible Bonds.

The new system is called the "UNIVCONV - Universal Convertibles Add-in" and handles portfolios of Convertible Bonds with structured calls, puts and conversion schedules, non-stationery share/bond correlation, time dependent credit spreads, discrete and continuous dividends, cross-currency and multiple conversion ratio resets. The add-in can be linked with most real-time feeds to provide a dynamic analytical environment which continuously marks to market multi-currency portfolios, and thereby improves P&L and Risk monitoring.

UNIVCONV uses a multi-factor trinomial No-Arbitrage lattice tree (with mean reversion), which we believe is the best, fastest, and most accurate advanced approach for Convertible Bonds.

The add-in is fully callable from Excel, Visual Basic, C, C++ and Access. The system is implemented as a single function call, thus assisting in the ease of use and integration into the user's analytical environment.

Dr Mamdouh Barakat, Managing Director, says "We believe that UNIVCONV sets a new standard for accuracy, speed AND price which other systems will find hard to beat. A Convertible Bond is a combination of both a bond and an equity option which gives the holder the right to exchange the Convertible Bond for shares. Convertible Bonds are very popular with investors and fund managers since they have the certainty of being a bond together with the potential upside from the equity component. Since certain fund managers are prevented from holding equity options, Convertible Bonds can provide their only means to have a positive exposure to the stock market. The accurate analysis of Convertible Bonds is a very complex area. This is one of the reasons why there are very few software packages available for analysing Convertible Bonds. In UNIVCONV , we have combined the latest techniques and models from both the fixed income and equity derivative world."

For increased accuracy in the construction of the interest rate term structure curve and for calculation of sensitivities caused by nonparallel yield curve shifts, the Universal Convertibles Add-in requires the Universal Swap Add-in.

Please see our latest price list (http://www.mbrm.com/pricelist.shtml) for the cost of this module.

Minumum System requirements :

        32-Bit Windows. i.e. Windows 95 or Windows NT
        UNIVSWAP - Universal Swap Add-in

For further information, please contact our Sales Team

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