A unified multi-asset model suitable for most portfolios
EMA provides comprehensive coverage of global equities, fixed income, currencies, commodities, derivatives and funds.
Any investible asset that has a history of traded prices or for which its expected price can be modelled from the prices of such assets is either native to the EMA models, or can be added to the model by the user. The system is fully extensible with a .NET API allowing for the incorporation of specialist pricing models.
Examples include common stock, preferred shares, ADRS, Government bonds, Corporates, Municipals, Agency bonds, Index-linked, Floating rate notes, Structured coupon, Sinkable, Callable/putable, Convertibles, Bond futures, Bond options, Swaps, both fixed/float and float/float, short term interest rate futures, forward rate agreements, Credit default swaps, Swaptions, all currencies, currency forwards and options, baskets and composite instruments.
Illiquid assets such as Private Equity or Property can also be accommodated by mapping them to a representative traded asset which may be a security, index or fund. The “child” asset does not have to be identical to its “parent”. Its risk level and characterisation can be set independently. The composite feature, where an asset may be represented by a portfolio of assets, is particularly powerful in allowing more accurate representations of special instruments, with the system able to consider such holdings both at the composite level and also by looking through to the underlying.