SOURCE: WestClinTech


November 18, 2010 14:37 ET

XLeratorDB Adds Powerful New Loan/Lease and Bond Functions for SQL Server

Latest Release of XLeratorDB/finance Function Library for SQL Server Offers In-Database Operating Analytics for Industry-Standard Loan/Lease and Bond Calculations

IRVINGTON, NY--(Marketwire - November 18, 2010) -  WestClinTech announced the release of XLeratorDB/finance 1.06, which adds 19 new functions for loan/lease and bond calculations to its basic financial functions library for Microsoft SQL Server. With this release XLeratorDB now offers a total of 82 individual financial functions to extend SQL Server's in-database operating analytic capabilities and address a wider range of real-world requirements, with greater flexibility and accuracy than Excel and other Microsoft reporting tools.

The new loan functions include amortizations, schedule options ranging from daily to annual payments, plus calculate irregular first pay periods and Rule of 78 interest. The new bond functions fill an important gap in Excel and address issues with the accrued interest function.

Flexibility is a key feature of the new loan functions. With a start date and regular due dates as inputs, the XLeratorDB functions will automatically do all the calendar conversion work and adjust the interest amortization, whether the payments are in days, weeks, months or years. 

"Bond and loan calculations have long been a weak spot in Excel," explained Charles Flock, WestClinTech CEO. "There is little pay schedule flexibility, the syntax can be confusing and in some cases the calculations are simply wrong because they have not kept pace with the explosion of new instruments and changing industry standards."

"Creating loan schedules and calculating bond settlement prices are integral parts of daily business operations. Unlike predictive analytics these functions handle calculations that make the enterprise run, and not merely statistics in a data warehouse," Flock added. "So it makes sense to run them in the database, at the heart of those daily operations. It's just so much more reliable and efficient."

About WestClinTech:
WestClinTech ( is a software developer based in Irvington, N.Y. The company's flagship product, XLeratorDB, is a set of SQL Server function libraries that perform the same analytic calculations found in Excel spreadsheets, "R" and other popular analytic tools. Running directly on the database layer using CLR, XLeratorDB adds 450 functions to SQL Server's native capabilities, giving it analytic power in finance, statistics, math and engineering that no spreadsheet, reporting tool or other DBMS can match.

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