Cumulus9 provides a unified margin and risk analytics platform that computes pre-trade, intraday, and end-of-day margin across 20+ native methodologies—including SPAN, SPAN 2, PRISMA, TIMS, and ISDA SIMM—in a single engine. The platform delivers synchronous margin responses in approximately 30 milliseconds, supports batch processing up to 500 MB, and covers 80+ exchanges across five asset classes. It also offers real-time PnL streaming, parameter monitoring, and a centralized limits management system.
- Data & Analytics
- Financial Technology
- Software Only
Funding
Funding not disclosed
Founders
Product
Problem
Financial institutions face fragmented margin and risk systems where pre-trade, intraday, and end-of-day calculations run on different engines, producing numbers that fail to reconcile with clearing house calls. This forces risk teams to spend time on system reconciliation rather than analyzing actual exposure, while fragmented limit management across multiple authorities and trading front-ends creates operational risk and audit complexity.
Solution
Cumulus9 provides a unified margin and risk analytics platform that computes margin, VaR, Expected Shortfall, stress, and live monitoring in a single pipeline on the same submission. The platform supports 20+ native margin methodologies—including SPAN, SPAN 2, PRISMA, TIMS, ISDA SIMM, IRM 2, JPX VaR, Euronext VaR, and B3 CORE—across 80+ exchanges and five asset classes. Pre-trade margin calculations return synchronously in approximately 30 milliseconds, while batch processing handles payloads up to 500 MB. The platform also delivers real-time PnL streaming over WebSocket, automated parameter monitoring with zero-touch recalculation, and a unified limits management system that normalizes every authority's caps into a three-tier breach model.
Target Audience
Primary customers are risk managers, margin operations teams, and compliance officers at clearing members, broker-dealers, and financial institutions that need to reconcile client margin calls with CCP charges and manage multi-exchange exposure across derivatives, fixed income, and crypto.
Features
- Single POST /portfolios API returns margin across 20+ methodologies simultaneously, including SPAN, SPAN 2, PRISMA, TIMS, SIMM, and more
- Synchronous pre-trade margin calculation in ~30 ms with what-if margin delta per contract, per account, and per CCP
- Multi-asset support covering ETD, equities, fixed income, FX, and crypto with automatic routing to the correct methodology
- Historical VaR and Expected Shortfall at 99% confidence with 15 years of decomposed PnL history and lookback to ~3,900 days
- Four-level stress override hierarchy (sector, sub-sector, underlying, expiry) with versioned, per-user scenario libraries
- Real-time PnL streaming over WebSocket with 1-second market-data throttle and 1–10 second PnL cadence
- Parameter Monitor auto-refreshes every 10 seconds, tracks 20 GB parameter cycles, and triggers zero-touch recalculation with per-account margin impact reports
- Limits Manager unifies 12 limit systems into one golden source with three-tier breach model (Position, Accountability, Reporting) and 100% audited changes