IHS Markit plans to extend its derivatives data and valuations business following the acquisition of DeriveXperts, a provider of valuation services for OTC derivatives and other complex financial securities.
Paris headquartered DeriveXperts specialises in daily and monthly computations of hard-to-value assets, such as equity derivatives, FX derivatives, interest rate derivatives and structured notes. IHS Markit provides pricing and valuation services, including independent mark-to-market valuations and risk analytics, for vanilla and exotic OTC derivatives, fixed income cash products, private equity and illiquid debt investments.
Gianluca Biagini, managing director for derivatives data and valuation services at IHS Markit, says: “DeriveXperts brings us a skilled team and a high-quality service that extends our offering for derivatives, particularly in equity-linked products, an area that we see growing across all our customer segments.”
Francis Cornut, founder and CEO of DeriveXperts, adds: “Together, we will continue to deliver unparalleled expertise and best-in-class capabilities that move with the speed of evolving global markets.”
For IHS Markit, the acquisition not only extends its derivatives data and valuations business, but also adds employees to its 100-plus team in Paris and clients based in France and French-speaking Europe including banks, investment managers, insurance companies, private banks and other types of wealth management firms.