From vanilla to structured products, the Principia Analytic System (PAS) provides an intuitive interface for creating and managing the breadth of financial instruments, including structured finance assets (ABS, MBS), structured credit, sophisticated options, and hedging products. With efficient and flexible trade input, PAS supports the full range of fixed income, derivative and debt products.

The chart below provides a partial listing of the kinds of instruments that can be created and maintained in the system.

Assets	Liabilities	Derivatives
ABS/MBS Municipals Corporates Sovereign Bonds High Yield Bonds FRNs Loans Trade Receivables	Debt Issuance Repos MTN Programs Commercial Paper:   - Euro   - US Insurance Liabilities	Interest Rate Derivatives Credit Derivatives FX Derivatives Equity Index Derivatives   Vanilla and Highly Structured

A Note about LIBOR Replacement:

PAS has been ahead of the market in developing functionality to support products based on new Alternative Risk Free Rates (RFRs) like SOFR, SONIA, ESTR and TONAR. This includes support for compounded averages, observational shifts, rate cutoffs and payment delays that are common features for products based on overnight rates. Additionally, PAS supports OIS discounting with the new RFRs and can build curves based on a number of market data sets such as : SOFR swap rates, SOFR v LIBOR basis, SOFR v Fed Funds basis, as well as spreads to US Treasuries.

Principia Analytic System

• PAS
• Derivative Managers
• Investment Managers
• GIC Managers
• Rated Operating Companies


• SaaS: PAS via the Web
• Product Coverage