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About Microsoft in Financial Services

Microsoft’s Financial Services Group provides software that helps financial firms transform the customer, employee and operations experience so they can maximize opportunities for increased market share and profitability. Microsoft software helps empower people and IT staff within financial firms — and across key focus areas such as advisor platforms, channel renewal, insurance value chain, enterprise risk management and compliance, and payments. Through a combination of Microsoft- and partner-provided solutions, customers enable their employees to turn data into insight, transform ideas into action and turn change into opportunity.

More information about Microsoft’s Financial
Services Group can be found at http://www.microsoft.com/financialservices.

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Financial Term Of The Day

Convertible Hedge
An arbitrage strategy which involves buying a convertible security while simultaneously selling short the same company's common stock. This strategy involves identifying stocks that are mispriced by the market, shorting the stock and buying a convertible security issued by that company. Having sold the stock short, the investor puts proceeds in an interest-bearing account. If the stock price stays the same, then the investor will earn interest on the short sale proceeds and interest on the convertible security, while paying fees to the lender of the stock. In most cases, this situation will lead to a positive net cash flow. If the stock price rises, then the investor gains on the convertible stock, but loses (hopefully a smaller amount) on the short sale position. If the stock price falls, the price of the convertible falls, but the value of the convertible will never fall below the value that an ordinary bond issued by the company would have. On the other hand, the investor makes a gain on the short position (hopefully more than the amount lost on the convertible). A convertible hedge is considered a relatively safe strategy, but choosing which ones to pursue is complex and so convertible hedges are done primarily by professional investment managers who are supported by powerful analytical tools.