StatPro, a provider of portfolio analytics and data solutions for the global asset management industry, announced today that the latest version of its Complex Asset Pricing (CAP) service has been updated to provide an even greater degree of accuracy and transparency for asset managers seeking to price complex financial products.
First launched in late 2008, CAP was created to answer three challenges in pricing complex products: accuracy, independence and transparency. Using multiple sources for input data along with QuantLib2, StatPro’s proprietary financial library, CAP provides highly accurate pricing whose underlying data is independent from the creators of the products.
StatPro CAP also includes Price Challenge, a unique capability that ensures transparency on all pricing data. In the past, asset managers have had to trust that the prices they received from various systems was correct; using Price Challenge, they can submit a query and quickly get a PDF report of the origin of a difference between pricing sources. This allows StatPro clients an unprecedented level of visibility that enables better decisions on every asset they purchase.
“Until today, asset managers have had to maintain a degree of blind faith in the prices they receive for complex financial products,” said Dario Cintioli, global head of risk at StatPro. “CAP helps take the mystery out of the process so that our clients can realise competitive advantage through smart, informed decisions about portfolio management.”
CAP covers instruments that need a ‘complex’ valuation model and traded market data to be priced. This includes Interest Rate Swaps, Credit Default Swaps on single names and baskets, FX Forwards and Equity Options. Recently added categories include Equity Certificates.