Tullett Prebon today announces that OTC Valuations (OTC Valuations), its technology-driven services firm providing post-trade securities and derivative valuation services to clients globally, has rolled out its new OTC derivative price verification service aimed at high volume portfolios of vanilla through to complex products.
Daily valuations are typically charged at $0.20 USD, which includes full price challenge support, automated portfolio submission, and delivery of price files on a T+0 basis. This flexible service is made possible through automation of market data verification processes, portfolio trade loading, model calibration, report generation and valuation report delivery.
Miroslav Vanous, Head of EMEA at OTC Valuations, commented: “Since opening the business in 2007, automation of error prone, manually intensive, processes has always been a key part of our architectural blueprint for system development. This latest release of our in-house valuation technology allows our analysts to spend most of their time on modelling the most complex structures, as we have ‘systematized’ the work that many firms continue to do in spreadsheets, including market data management and cleansing.
“One of our key differentiators is to take the burden off clients, as they can provide their portfolio in whatever format it exists, and we can provide a valuation report, which includes risk statistics and sensitivity measures, in a format customised to their needs.”
Used as a complement to consensus pricing, a gap filler or replacement to other mainstream valuation services, OTC Valuations’ service delivers auditable valuation reports, complete supporting documentation and price challenge support to banks, fund administrators, hedge funds, asset management firms and corporates. These valuation capabilities are a natural extension to, and utilise, Tullett Prebon’s independent market data offering.