Interactive Data’s OTC Derivatives Valuations Service Now Used by Wide Range of Financial Institutions
30 Junio 2010 - 6:15AM
Business Wire
Interactive Data Corporation (NYSE: IDC), a leading provider of
financial market data, analytics and related solutions, today
announced that its valuations service for complex OTC derivatives
and structured products, offered in conjunction with Prism
Valuation, is now being used by more than 25 major international
financial institutions.
A wide range of institutional clients around the globe,
including custodians, asset managers, hedge funds and sell-side
firms, subscribe to this valuations service, which offers a high
level of transparency and broad coverage. Transparency reports
provide a breakdown of the method used to achieve a given valuation
for each deal, including a detailed discussion of the models and
calibration strategies selected. This level of transparency can
help clients comply with current regulatory and auditing demands.
In addition, the service offers a discrepancy analysis, which can
help a client understand the variations that arise from different
valuations of an instrument, by comparing the client’s in-house
valuation with the independent valuation, and concluding with an
opinion of the maximum valuation deviation for that product.
Valuations are available based on a wide range of underlyings
including interest rates, FX, inflation, equities, credit,
commodities and hybrids, and can be requested by the client on a
per instrument basis. The service, tailored to clients’ needs, can
provide valuations for most flavours of OTC derivatives and complex
securities, and new structures – such as loans issued under the
Term Asset-Backed Securities Loan Facility (TALF) – are continually
being added.
Anthony Belcher, director, European Fixed Income, Interactive
Data, commented: "Clients welcome the transparency that we are able
to offer, as well as the flexibility of our service and the breadth
and depth of our coverage. There has often been a high degree of
uncertainty when performing valuations of complex instruments. We
work with clients to mitigate this uncertainty by helping ensure
that the service we offer helps to meet their obligations from the
valuation, associated values and delivery standpoints. The service
can also help firms perform functions such as independent price
verification (IPV), product control and compliance. We aim to help
customers meet their mark-to-market pricing requirements, while
enabling them to understand the associated risks and
sensitivities.”
Interactive Data has decades of experience in providing
independent fixed-income evaluated pricing and is a recognised
leader in the market. Interactive Data's teams of evaluators
operate in three major time zones to evaluate approximately 2.8
million fixed-income and international equity issues every day,
covering a broad range of instruments that include global
asset-backed securities (ABS), mortgage-backed securities (MBS) and
collateralised mortgage obligations (CMOs). Independent valuations
for a broad range of alternative investments are also available.
Over 5,000 financial institutions in over 50 countries, including
central banks, investment banks, major mutual and investment fund
companies, subscribe to Interactive Data's evaluated prices.
About Interactive Data Corporation
Interactive Data Corporation (NYSE: IDC) is a trusted leader in
financial information. Thousands of financial institutions and
active traders, as well as hundreds of software and service
providers, subscribe to our fixed income evaluations, reference
data, real-time market data, trading infrastructure services, fixed
income analytics, desktop solutions and web-based solutions.
Interactive Data’s offerings can help clients around the world with
mission-critical functions, including portfolio valuation,
regulatory compliance, risk management, electronic trading and
wealth management. Interactive Data is headquartered in Bedford,
Massachusetts and has more than 2,400 employees in offices
worldwide. Pearson plc (NYSE: PSO; LSE: PSON), an international
media company, is Interactive Data’s majority stockholder.
Pricing, evaluations and reference data are provided in the US
through Interactive Data Pricing and Reference Data, Inc. and
internationally through Interactive Data (Europe) Ltd. and
Interactive Data (Australia) Pty Ltd. Valuations for OTC
derivatives and structured products, and TALF loans are provided by
Interactive Data through an agreement with Prism Valuation.
For more information about Interactive Data please visit:
www.interactivedata.com
About Prism Valuation
Prism Valuation was founded in 2006 to provide independent
valuation and risk management services for customers’ deals
covering all major asset classes. Prism Valuation has a team of
senior people, each with many years’ direct and extensive
experience on the trading floors of leading international
structured products dealers. This core knowledge base is supported
by a team of high-calibre associates, each highly skilled in
financial engineering and computer modelling.
Prism Valuation’s strategy in providing services is to replicate
the pricing and risk analysis capabilities of a structured products
dealer. In this spirit, a bottom-up approach is taken, in which the
valuation quant teams independently analyse original deal
documentation (deal termsheet, confirm or prospectus) and then
decide on the required market data, appropriate models and relevant
calibration strategies most suitable for valuing a given deal.
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