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What is TOPS?

 

TOPS is a set of models for pricing and measuring the risk of a wide variety of plain vanilla and exotic options and derivatives. Each TOPS model is capable of handling one core component derivatives structure, such as a standard option, a lookback option, a barrier option, a swaption, etc. A model can be used to calculate a price, a sensitivity (like delta, gamma, duration, etc.) and implied volatility. Models can be mixed and matched to create a virtually limitless array of exotic structures.

 

Most input parameters can be single values, or schedules/curves. So even the simplest standard option model can handle full yield and volatility cuirves, as well as changing strikes and amortization schedules.

Who uses it?

 

TOPS is used by over 3,000 practitioners at the world’s leading investment banks, commercial banks, hedge funds, money managers, brokers, dealers, corporate treasuries, consultancies and audit firms. In fact, four out of the Big Four auditors use TOPS.

 

Where can it be used?

 

TOPS is a C subroutine library that can be used inside any in-house or third-party open system, as well as inside Excel. It runs on all versions of Windows and Linux/Unix. In Excel, dialog boxes and the TOPS Template Builder make it particularly easy to use.

 

How is it licensed?

 

Licenses are available on a node-locked basis per machine, or on a concurrent basis with a network license, or with the calculation server license any number of users can share the same machine, each with their own client machine.

 

What structures can it handle?

 

TOPS covers derivatives from the interest rate, equity, FX, commodity, convertible, MBS, energy, electricity and credit derivatives markets.

How can I try it?

 

Eligible users can sign up for a free trial at http://www.savvysoft.com/reqinfo_topstrial.cgi

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