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Prime Source and Pricing Partners Join Forces - Dec 08

 

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Prime Source and Pricing Partners Join Forces

London, Paris – 10 December 2008 - Prime Source, a NYSE Euronext company and Pricing Partners announced a business partnership whereby they will join forces in the valuation business to provide customers with an enhanced combined offering.

With the expertise of Pricing Partners in valuing structured derivatives products, the agreement extends Prime Source’s offering to its customers and enables Pricing Partners to expand its reach into new markets and geographies.

Eric Benhamou, CEO of Pricing Partners said “We are very proud to work with Prime Source, a NYSE Euronext company. Working with Prime Source is a great way for us to rapidly reach a global market, thanks to the vast network of the world’s leading stock market operator. With our combined offer on independent valuation, we are well positioned to become a leading actor in this field.”

Marie-Hélène Crétu, CEO of Prime Source, said, “We are delighted with this new partnership. Pricing Partners are experts in the valuation of structured derivatives products, having created and developed some of the most advanced mathematical models in the industry. This actually enhances our valuation services offer available via Prime Source. It gives our customers an even wider choice for the valuation of a variety of financial instruments from a single provider, without the need to appoint many specialist suppliers to meet complex valuation needs.”

This announcement comes at a time when both sell side and buy side firms face increasing pressure from investors, regulatory authorities, and accounting standard setters to obtain independent valuations of complex securities. Pricing Partners is a privately-owned financial engineering company, based in Paris, and founded by a professional team of experts from the trading industry, including IT specialists and quantitative analysts with experience from some of the world's leading investment banks.

With its increasing portfolio of clients and partners, and its rapid growth, Pricing Partners has gone from being a young start-up to a well respected and trusted company known for its innovative developments and expertise in the valuation of structured derivatives products. Launched in February 2008, Prime Source provides financial institutions with a comprehensive portfolio valuation service covering a wide range of asset classes and financial instruments, from plain vanilla to the most complex structured products and illiquid securities. Prime Source allows users to access prices and evaluations from different sources, including markets, dealer contributions and valuation models. Offering both automated and tailor-made valuation services, Prime Source is designed to provide transparency and help users to comply with relevant regulations and accounting standards when carrying out their daily valuations.

 

 

Media Contacts:

Prime Source (NYSE Euronext)

Tel: +33 (0)1 49 27 11 33 (Paris)

Pricing Partners

Tel: +33 (0)1 55 26 43 00 (Paris)  

 

About Pricing Partners 

Set up by former professionals of the trading industry, Pricing Partners offers accurate solutions for derivatives products valuation, pricing tools and risk analytics. Thanks to Price-it online, a SaaS platform, Pricing Partners provides independent valuation from the vanilla to the most exotic financial products on most assets (Interest Rates, Fixed Income, Equity, Inflation, Credit, Foreign Exchange, Commodities, Life Insurance and Hybrid products). Pricing Partners develops and commercializes Price-it Excel, an analytic and independent pricing library using a generic payoff language description that allows it to price virtually any financial derivatives. Price-it supports VaR, CVaR and the most common risk management tools. Pricing Partners is the only company completely mastering the chain of valuation, developing both its own pricing library and a valuation platform giving its clients very accurate and reliable valuation as a result of its intrinsic knowledge of the pricing tools. Pricing Partners solutions can be used by investment banks, buy side firms, hedge funds, financial departments, trading rooms and audit firms.

For more information, visit: www.pricingpartners.com   

 

About Prime Source 

Prime Source, a NYSE Euronext company, is an independent valuation agent empowering customers to make an educated choice on the valuation of their multi asset-class portfolios.

It is a wholly-owned subsidiary of NYSE Euronext, the world’s leading, most liquid and diverse exchange group, listed in New York and Paris and recognized for its independence and broad-based shareholding structure.

Prime Source operates a streamlined valuation service, covering a wide range of financial instruments from plain vanilla to complex structured products and illiquid securities. It includes an actual data management and quantitative analysis expertise to provide a comprehensive service to any financial institution needing a valuation of a financial instrument or an independent valuation of a portfolio.

Its secure and reliable process is aligned with accounting and regulatory recommendations and standards and addresses customers’ valuation needs. This service represents a true added value for any customer seeking an external valuation process, ensuring full confidentiality and neutrality.

Prime Source is committed to foster innovation and improve the overall confidence in the markets by building transparency and reducing operational risks for financial institutions.This service clearly introduces a new dynamic in the rapidly growing field of portfolio valuation, capitalizing on NYSE Euronext’s existing solutions.

For more information, please visit www.nyxprimesource.com