BancorpSouth Bank, a US-based commercial bank, has gone live with OTC Valuation’s derivative valuation service as part of its drive to improve its audit and valuation capabilities.
The vendor has reported a good start to the year in terms of client interest as a result of the post-credit crunch market focus on external sources of evaluated prices. Bob Sangha, managing director at OTC Val, explains: “As auditors increase their scrutiny of counterparty pricing, institutions are increasingly turning to third party valuation service providers to verify the market value of their derivatives portfolio. Ongoing regulatory mandates and continued market turmoil have highlighted the need for a truly independent and objective source of valuations for the purposes of compliance and market risk.”
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