About Vinga System
Vinga System is an independent software development and consulting company. The company was founded in 1983, and the main area of focus is advanced Windows programming in combination with advanced economic calculations, database technology and computer communication
Today, Vinga System has 12 employees, and several of them have university degrees (MSc and MBA). The company is self-owned and has a very low personnel turnover.
Vinga System tries to focus on software development and consulting. Therefore the Vinga System self-owned software solutions are often licensed, marketed, sold and supported by business partners.
History and products
Vinga System AB was founded in 1983 and has its roots at the School of Economics at the Gothenburg University. The combination of expert knowledge about the Swedish money market and early usage of the IBM PC made the Vinga PMS system (PenningMarknadsSystemet) a success during 1985-1988. Vinga PMS started as a back office system for banks and brokers. It evolved to comprise front office functions as well. By using PC technology, at that time not very common in this area, Vinga could adopt Vinga PMS to changes in the market faster than the competitors, which was a big advantage. Vinga PMS started as a single PC solution, but it was soon extended to work in PC LANs. Since PC LANs where not very common, Vinga often had to undertake responsibility for installation and maintenance of the customers' first PC LANs. Among the customers were City Bank, Swedbank (Sparbankernas Bank), Den norske Creditbank (DnC) and Första Sparbanken.
Vinga PMS was developed using DataFlex, a 4GL database system. During the work with Vinga PMS, Vinga developed several tools for managing DataFlex databases. These tools became quite powerful and Vinga has successfully sold them under the names Vinga VsUtils, Vinga Update, Vinga DF/TTS and Vinga DFR for several years and have customers all over the world.
In 1988 Vinga started to develop Vinga Vedrò, a real time analysis and presentation system for the financial market. Vinga Vedrò was general and connections were built to several data sources such as PmI and Reuters. There was also a connection to Vinga PMS for real time portfolio analysis. Vinga Vedrò was client server based running OS/2 in the server and Windows for the client. The first customers, Första Sparbanken and DnC in Göteborg, started using the system in 1989.
With the acquired knowledge of advanced PC programming and PC technology Vinga have since 1990 had many projects involving advanced hardware installations and program development
Among the hardware projects the most prestigious are Flygfältsbyrån (1989) and Erlandssongruppen with large and complex Novell NetWare LANs.
Among the software projects are EcoWin, a macro economic analysis tool, developed for Hanson & Partners and sold in Scandinavia and the US. For Volvo, Vinga has developed F.R.O.G. for advanced portfolio risk analysis, using the mean-variance approach.
In 1992 Vinga started a cooperation with SIX AB (formerly Bonnier Findata and before that Dextel Findata and before that Dextel) and built a connection to Vinga Vedrò for Findata's information system MoneyLine. Vinga Vedrò is now jointly owned by SIX AB and sold as SIX Trader.
Vinga Vedrò has evolved to be one of the most advanced programs for real time financial information on the market. The main competitors are Reuters and Telerate. The information from SIX is primarily focused on the Scandinavian market. Among the customers are Handelsbanken, Unibörs (in Copenhagen) and Riksgäldskontoret. This is currently the most important product for Vinga.
In 1995 Vinga started development on Vinga Credo, a system for asset
and liability management. The system encompasses multi-currency fixed
income securities, futures, FRAs, swaps, and caps & floors. The
analysis is based on a detailed account of historically realised cash
flows, as well as on future contracted and expected cash flows. A
mark-to-market evaluation of existing and anticipated contracts is easily
undertaken at any time. The simulation of changing balance sheet and
off-balance sheet items and their sensitivities, especially, to interest
rate changes is at the centre of the system.
The most recent development is the Vinga Asset Allocation System. The Vinga Asset Allocation system is a powerful tool for analyses of risk and returns in financial investments. Some central studies that can be performed are made in the tradition called the Mean Variance Approach.