MORE ABOUT TOPS^TM

TOPS works as add-ins for two of the most popular spreadsheets: Excel and Applix (a UNIX spreadsheet). The software works on all versions of Windows, or UNIX. TOPS is also available as C subroutine libraries, which may be easily integrated into in-house software, or major third party systems including Infinity (Infinity Derivatives, Panorama, Opus, Devon), Summit, Algorithmics, AFA Systems, Frustum, CATS, Decision Software and any other open system [check out Savvysoft Kameleon, for integrating models into any open system without programming a single line of code!].

Rich Tanenbaum has designed all TOPS models for optimum functionality and maximum flexibility. Each TOPS model contains multiple theoretical models so companies can use just one TOPS model to handle European options, American options and fully flexible Bermudan options. And companies may also use the same TOPS option model to calculate not only prices, but also other crucial valuation measures such as implied volatilities and the full range of Greeks (delta, gamma, theta, vega, rho, foreign rho, and more). Where appropriate, some TOPS models also contain Savvysoft proprietary extensions that greatly speed up any calculation. We have clocked options valuations at speeds as fast as 60,000 calculations per second!

Furthermore, all TOPS models feature Savvysoft's exclusive Power Ranges. A major Savvysoft innovation, Power Ranges allow you to value derivatives based on yield curves, volatility curves, and forward price curves. Power Ranges also make it possible for you to value derivatives that have step-up/step-down coupons, amortizing/accreting and roller-coaster notional balances, changing strikes, changing barriers, etc. In short, with Savvysoft Power Ranges, one TOPS model is all you need to handle the thousands of variations of a particular derivative structure.

The clean design of TOPS's implementation is especially evident in the system's modularity. Output from one model is immediately recognizable as input by another model. The TOPS system architecture is perfectly suited for valuing OTC derivatives particularly because most complex derivatives are really just simple combinations of core structures, and it is precisely those core structures that TOPS covers so well. Mix and match TOPS models to create a virtually infinite number of combination positions.

When it comes to ease of use, TOPS deal entry and deal valuation screens are second to none. Companies have at their disposal both Savvysoft dialog boxes and the revolutionary TOPS Template Builder. Savvysoft dialog boxes prompt the user for a model's inputs and feature context sensitive help pertaining to each input field, both of which expedite the deal entry process and eliminate input errors. The TOPS Template Builder is a whole 'nother smoke: rather than just shipping canned templates, TOPS lets companies design and build them on the fly with the push of a button, according to their wishes.

TOPS has over 700 installations in 15 countries, including four of the "Big Five" auditors. It is fast becoming the standard by which all other derivatives software is measured.

TOPS is also Year 2000 compliant and satisfies all FASB 133 requirements.