Reval Hires Ex-QuIC Sales Exec Sirett as Managing Director for EMEA Region
Risk management solutions provider Reval has hired ex-QuIC Financial sales head, Nigel Sirett as its new managing director for the Europe, Middle East and Africa. In his new role, he will be responsible for driving sales in the region for its derivative risk management and hedge accounting solutions. At QuIC Financial, Sirett was responsible for...
Susquehanna Financial Group Completes Integration of Derivix Solution into In-House Platform
Susquehanna Financial Group (SFG) has completed the integration of the Derivix options trading solution into its in-house technology platform, with a view to expediting its access to pricing data. The deal represents the largest customer deployment to date for the options pricing, risk visualisation and analytics provider, says Jonathan Weedon, CEO of Derivix. Aaron Hantman,...
Belgium Debt Agency Opts for Derivatives Valuations from Pricing Partners
The Belgium Debt Agency has purchased Pricing Partners’ software with a view to strengthening its capacity for independent valuation and audit in its treasury and risks control departments. The public debt management agency, which is part of the Administration Financing of the State and Financial Markets within the General Administration of the Treasury, is using...
ABA Commends FASB on Progress But Says More Needs to be Done on OTTI
Following a barrage of criticism from market participants, government figures and regulators alike, the Financial Accounting Standards Board (FASB) has finally released a number of proposals concerning mark to market accounting rules. The proposals include allowing firms more leeway in determining if a market is active and whether a transaction is distressed. However, a number...
Fitch Solutions Pitches CDS Liquidity Scores and Rankings at Buy Side Market
In a bid to increase its market coverage, Fitch Solutions has been actively marketing its credit default swap (CDS) data to buy side institutions, says Thomas Aubrey, managing director of the data solutions division of ratings agency Fitch. The liquidity scores and percentile rankings, which are derived from Fitch’s proprietary statistical model, for these widely...
RiskVal Launches CDS Conversion Analytics to Valuations Solution
RiskVal has added credit default swap (CDS) conversion analytics to its portfolio valuation solution with a view to helping its customers move to the new credit derivatives standards. The vendor indicates that for a limited time, it will be offering a free service to help these firms convert legacy CDS portfolios to the new standards...
US Government Threatens to Step in for Mark to Market Improvements
Members of the US Congress have indicated that the government will step in to take action if the Financial Accounting Standards Board (FASB) does not take swift action to improve mark to market accounting standards. The industry has been discussing potential improvements to the controversial accounting rules over the last couple of months but there...
Shadow Financial Systems Provides Access to Fincad’s Derivative Pricing Library
STP solution vendor Shadow Financial Systems has joined the Fincad Alliance Programme to enable users of its ShadowSuite application access to Fincad’s derivative pricing library. According to the vendors, this will allow users to independently value derivative positions during their post-trade processing and clearing operations. The ShadowSuite software solution for post-trade processing, reconciliation, clearing, settlement,...
Fitch Solutions Adds Risk and Pricing Benchmarks to Risk and Performance Platform
Against the background of greater regulatory scrutiny of firms’ risk management practices, Fitch Solutions has incorporated new risk and pricing benchmarks into its Fitch Risk and Performance Platform, which was launched in June last year. Jonathan Di Giambattista, senior director at the vendor, indicates the benchmarks, which can be visualised via a new product feature...
SuperDerivatives Upgrades VolSurface Solution for Mark to Market Rules
Derivatives data specialist SuperDerivatives has upgraded and renamed its derivatives revaluation and risk management offering, VolSurface, to accommodate improvements to market data and risk reference data. The service, which is now called Mark-to-Market Data, has been altered to more adequately meet the requests of its customers following recent feedback, says the vendor. Dani Weigert, Mark-to-Market...