CRZ PRICING · DESK WORKFLOWS

Institutional derivatives.
Bespoke desk workflows.

CRZ is an institutional, bank-desk-grade cross-asset derivatives pricing and risk system. Build the portfolio monitor, trade comparison, relative-value screen, alert or historical replay your desk needs around the same engine that prices the book.

AI-assisted development with OpenAI Codex shortens the cycle around the CRZ API: integration, tests, interface and scheduled output.

MARKET DATA──▶ CRZ──▶ TESTED WORKFLOW──▶ DESK DECISION
// Rates · FX · credit · equities · commodities · crypto · linear, options and exotics.
Commercial relationship

Avrox Asset Ltd provides research support and commercial introductions to CRZ Pricing and may receive commission where an introduction leads to business. CRZ Pricing is a separate company and contracts for its own services.

The proposition

Institutional pricing.
Desk-specific output.

Turn a recurring front-office question into a reusable workflow built on CRZ pricing and risk.

01

Price and risk in CRZ

Price trades, calculate risk and run scenarios on the same institutional engine.

02

Build the workflow

Create the integration, tests, interface and scheduled output around the API.

03

Run it again

Rerun the analysis as markets move and extend it as the desk’s requirements change.

The architecture

One engine. One tested path
to the desk.

Market data defines the state. CRZ calculates prices and risk. A tested workflow turns those calculations into the comparison, monitor or report the desk actually needs.

Bloomberg / B-PIPE Refinitiv · TP ICAP Exchange feeds Files / internal data DATA LAYER CRZ PRICING cross-asset pricing · autodiff greeks VaR · ES · XVA · SIMM · FRTB · SA-CCR payoff scripting · exotics · hybrids API ⇄ GUI · 1:1 mapping PRICING & RISK ENGINE Python / C# API results · reports WORKFLOW integration · tests · output integrates · tests · presents records evidence APPLICATION LAYER PM directs · decides
MARKET DATA → CRZ CALCULATION → DESK APPLICATION

Data — controlled inputs

Connect provider feeds, exchange data, internal files or a frozen close. Keep the market state and valuation time attached to every run.

CRZ — the pricing engine

Database, FpML trade handling, pricing and real-time risk in one cross-asset application. Rates, FX, credit, equities, commodities and crypto — from linear products to bespoke exotics.

Desk workflow

The development workflow builds the integration, tests and desk-facing output around the CRZ API. CRZ remains the source of valuation and risk.

The workflow change

From recurring desk question
to reusable workflow.

CRZ supplies the institutional analytics. Build the monitor, comparison or research tool around it.

Recurring manual process

  • Clicking through risk screens to build a scenario, one shock at a time
  • Waiting on a quant or IT queue for any analysis the GUI doesn't offer
  • Spreadsheet bridges between the risk system and the actual decision
  • A morning pack assembled from several exports and hand checks
  • Pre-trade comparisons dependent on specialist availability
  • Useful one-off work that is difficult to rerun consistently

Reusable desk workflow

  • Compare alternative trade expressions on the same risk budget
  • Track positions and portfolio risk as markets move
  • Alert when market, risk or data thresholds are crossed
  • Automate morning P&L and risk packs
  • Replay strategies on historical markets
  • Extend the workflow without joining a central development queue
Desk workflows

Start with the question
the desk already asks.

Start with a live desk question. Price it in CRZ, build the workflow and put the result where the desk can use it.

CRZ experiment · macro trade expression
I think front-end rates will rally faster than the long end. Show me three ways to express the view on the same adverse-scenario loss budget. HISTORICAL DEMONSTRATION — COMPLETE 01 Receive fixed on a standard 2-year OIS swap 02 Receive 2-year / pay 10-year OIS, parallel-DV01-neutral 03 Buy a 3m × 2y receiver swaption CRZ: trade construction · PV/premium · PV01 · convexity · vega · repricing Workflow: risk normalisation · 48 shared scenarios · comparison · test pack 19 TESTS PASSED · deterministic rerun matched OPEN THE INTERACTIVE DEMONSTRATION → Historical CRZ run · evidence available
Synthetic positions on a 15 November 2023 GBP SONIA close. Gross immediate scenario repricing.
Evidence and controls

Every number says
where it came from.

CRZ calculations, workflow logic and desk assumptions remain distinct throughout the run.

Source labels

  • CRZ CALCULATION
  • WORKFLOW DERIVATION
  • DESK ASSUMPTION
  • NOT AVAILABLE

Run gates

  • Record CRZ version, market and valuation date
  • Prevent silent market or currency fallback
  • Reprice deterministically and test reported risk
  • Preserve failed and omitted tests with passed tests
The engine underneath

Institutional derivatives analytics
under every workflow.

CRZ combines market data, trade handling, pricing and portfolio analytics in one cross-asset front-office platform.

Explore the full CRZ capabilities →

Cross-asset instruments

Rates, FX, credit, equities, commodities, crypto and hybrids; linear products, options, exotics and bespoke payoff scripting.

Pricing and models

Market conventions, calibration, valuation and sensitivities for vanilla and complex derivatives.

Portfolio risk

Tenor sensitivities, scenarios, risk-explained and realised P&L, VaR, expected shortfall and portfolio replication.

Market analysis

Historical and configured real-time contribution, curves, forwards, smiles, surfaces, relative-value measures, PCA, correlation and volatility.

Counterparty economics

XVA, exposure, SIMM and capital measures across the relevant trade, CSA and portfolio state.

API and workflow

Python and C# access, API code generation, task scheduling, exports and testable extension modules for desk-specific development.

Research note · July 2026

Which derivatives platform fits your desk?

Compare front-to-back systems, specialist analytics platforms and open-source builds — and see how CRZ provides a direct route to bespoke desk tooling.

The build case

Institutional analytics.
A lean route to custom development.

CRZ combines institutional pricing and risk with a direct route to the integrations, controls and desk tools a team actually needs.

Price on CRZ
Use established models, conventions and risk calculations rather than building another valuation stack.
Build the workflow
Create the integration, tests, interface, alerts and scheduled output around the API.
Keep it extendable
Rerun it as markets move and change it as the desk’s process evolves.
Start the conversation

Bring one real
desk question.

A position to monitor. A trade to compare. A strategy to replay. A recurring process to automate.

Russ Oxley — Avrox Asset

Institutional pricing and risk. Bespoke desk workflow. One concrete question is enough to start.

Discuss a desk workflow