A quick introduction

We started working on Liquisim in the summer of 2008 after realising the central role, on the one hand, played by cash flow models in understanding securitisation deals and the actual lack of use of such models in some transactions by investors, on the other.

In my experience this ‘laziness’ on the side of investors or the financial institutions that represented them (towards the rating agency) often resulted in leaving huge amounts of money in the transactions: through structural enhancements large amounts could have been saved on a lower liquidity facility or reserve fund, or a higher proportion of better rated and cheaper tranches, for example. An environment where virtually everything could be sold must have greatly contributed to this overreliance on rating agency models.
However, as the credibility of these models started to plummet two years ago and it probably still hasn't recovered yet we think that investors’ need for own resources increased – not only for new transactions but for the many billions worth of outstanding issues, as well.

Our team consists of Viktor Maglodszki (senior programmer), Leslie Pinter (junior programmer) and myself (as consultant). Learn more about us below.

I hope you enjoy exploring our website and Liquisim. Please contact us if you have any questions.

Zoltan Varsanyi

Zoltan Varsanyi - senior consultant

Zoltan is currently employed as a senior product controller at one of the world's largest investment banks.

For 1.5 years between 2007 and 2009 he worked as a cash flow modeller at Standard and Poor's. His job was to build cash flow models for structured finance transactions, mostly ABS and RMBS deals (rated/reviewed around 150 models).
He used to work with clients on a daily basis and often saw that they were exposed to losses as a result of their lack of using a model on their side. And in the rating process, as well, the single most important tool was the cash flow model, in most cases.

Previously he worked at the central bank of Hungary as economist and risk manager. He participated in the Basel II implementation in Hungary, published on credit risk, and earlier he carried out research on the exchange rate forecasting and yield curve estimation.

Zoltan has an MSc in Economics from the Budapest University of Economic Sciences.

Viktor Maglodszky - senior programmer

For years Viktor has been working for a major financial software development company as a developer. He has expertise in Java and RDBMS systems (Oracle, PL/SQL) as well as banking applications built using JavaEE technology (including JPA, EJB and other enterprise technolgies).

He worked on financial, banking software development for many banks using Oracle, IBM softwares. He developed desktop based rich client appilcations and portal based (Liferay and JBOSS Portal) intranet and web application (using RIA, AJAX technolgies).

Leslie Pinter - junior programmer

Les is a student in Computer Science with a focus on Java programming.