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One of the largest French banks chose Pricing Partners for the second valuation - Jul 09

 

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One of the largest French banks chose Pricing Partners for the second valuation

Paris-London: Pricing Partners (www.pricingpartners.com), the independent valuation expert and a world leader in mathematical models and analytics for derivatives and structured products, announced today that one of the largest French banks selected its platform Price-it® online to double value its Interest Rate, Equity, Credit and Inflation derivative products. 

This bank, which wished to remain under anonymity, decided to innovate in terms of transparency and proximity with its clients. With this action, this bank has become a pioneer bank in responsible finance by offering access to an independent valuation on its OTC derivative products.

This bank was looking for a trusty and recognized solution. After an assessment of the available solutions, it selected Price-it® online, Pricing Partner’s online platform, for the reliability of its valuations and the large range of covered assets. As a matter of fact, the interest rate division of this bank was already a Pricing Partners’ client and was very satisfied with its solutions and services. Logically, this major French bank extended Pricing Partners scope to do independent valuation on its equity derivatives.

In the current period, transparency and financial responsibility has become a major concern. Recently, the American Justice Department's antitrust division has started investigating the supposed lack of transparency of the $26 trillion Credit Default Swaps Market and the alleged privileged access of some financial institutions to some critical pricing information. This case has been on the front page of many newspapers like the Wall Street Jounal as transparency is becoming a major concern for the regulators and the public authorities. And this is not a surprise that this has been the subject of strong declaration and commitment from the French President Nicolas Sarkozi and the German Chancellor Angela Merkel. By providing independent valuation on derivatives, this bank makes a big step towards full transparency.

Eric Benhamou, CEO of Pricing Partners comments “Being the independent valuations provider of this top French bank on the entire set of its derivatives assets, ranging from interest rate, equity, credit and inflation, is an outstanding landmark for our independent valuation platform Price-it® online. Since we already obtain the valuation on its interest rates derivatives, this extension to the other derivatives asset classes rewards our professionalism and quality of our collaboration. More than ever, we, Pricing Partners, will be committed to provide superior independent valuation service with our utmost efforts. With this new reference, we make an important step forward towards even greater recognition for our pricing models, our tools and our independent valuation platform. Hereby, we are underway to become the leading player in the field of transparency on the financial derivatives and structured products.”

Founded by former professionals of the trading floor, working in investment banks like Goldman Sachs, Société Générale, Natixis or HSBC, Pricing Partners has become over the last two years a major player. In October 2008, it launched its Internet independent valuation platform, Price-it® Online, which affirms its leading place in the financial modeling as well as independent valuations provider. Designed for all major assets like Interest Rates, Equity, Inflation, Credit, Foreign Exchange, Commodities, and Life Insurance to Hybrid products, Price-it® comes either as a software or an Internet Platform, providing all the tools for the transparent valuation on structured products. Price-it® online uses cutting edge mathematical models together with a new language to describe the complexity of any structured products. 

 

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 which allows the pricing of virtually any financial derivatives. Price-it also 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.

Pricing Partners has also signed numerous partnerships to distribute its technology with leading institutions like NYSE Euronext (for its independent valuation service via Primesource), Misys (for its pricing library integrated into Summit), CMA or Lexifi. It is also a Microsoft IDEES partner, an IBM, Sun, Datasynapse and ActiveEon partner. It is also a member of the grid research consortium GCPMF regrouping BNP Paribas, Calyon, Ecole Centrale, EDF, ENPC, the Inria, Natixis, Misys, Pars VI University and Supelec and a global coordinator of the Credinext consortium, in collaboration with PrimeSource, Lunalogic, the Ecole Polytechnique, the ENPC, the University of Marne La Vallée and the INRIA.

 

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