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A-Team Insight Blogs

Prime Source Extends Agreement with CDO2

Prime Source (NYSE Euronext) Limited, a wholly-owned subsidiary of the NYSE Euronext group specialising in providing independent valuations including derivatives and hard to value securities for banks and investment funds, and CDO2 Solutions Limited (CDO2), a market-leading system provider for pricing and risk analysis for structured credit derivatives, announced today the deployment of an enhanced service for performing independent valuations of structured credit products.

By integrating CDO2’s CDOVaR.net Pricing platform into Prime Source’s service, customers are able to obtain independent valuations of their bespoke CDOs or off-the-run index tranches in a timely and efficient manner. This extended service provides accurate, cleansed CDS quotes with automated robust correlation calibration and mapping techniques required in the current markets.

Marie-Hélène Crétu, CEO of Prime Source, said “We are delighted to be consolidating our existing close working relationship with CDO2. For the past three years CDO2’s market-leading analytics and grid-based
technology have given us the capability to handle a wide range of complex synthetic and hybrid credit structures and the flexibility to deal with the many unique features that we encounter. Combining
CDOVaR.net with our existing automated processes will add considerable operational benefits enabling us to value portfolios of complex synthetic credit structures much faster, bringing real added benefits to our clients whose positions and portfolios we value.”

Gary Kendall, Director of CDO2 said “We are very impressed by Prime Source’s approach to delivering independent valuations for client portfolios and are delighted to be strengthening our relationship with
them. Their market knowledge and expertise, combined with the market data available to them, gives their independent valuation service the same capabilities for comprehensive pricing and risk analysis of
structured credit portfolios as our customers who run CDOVaR.net directly.”

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