|First tier French Bank NATEXIS Banques Populaires Becomes Pricing Partners First Client - Apr 06|
Natexis Banques Populaires has chosen Price-it® to independently value its structured products.
Pricing Partners, announced that Natexis Banques Populaires has chosen Price-it® to value most of its structured products in a risk control perspective.
Natexis Banques Populaires will use the solution developed by Pricing Partners to counter value products of the trading floor on fixed income, credit, inflation and hybrids. The Risk Control department of Natexis Banques Populaires was looking for an independent, easy to use tool to analyze the model risk. Pricing Partners' solution clearly matches these needs. Its software, developed by former trading floor professionals, gives precise, reliable and independent valuation. It also perfectly describes the calibration tools used. Through the implementation of this solution, Natexis expects strong reactivity in the validation process of new structures.
Eric Benhamou, CEO of Pricing Partners, previously working at Goldman Sachs, comments "we are very proud to have Natexis Banques Populaires as our client. Natexis Banques Populaires adds a key reference to our client portfolio and positions Pricing Partners as a leading provider of financial derivatives pricing solutions for risk control groups. With its plug and play components, its simplicity and its precision, Price-it® completely matches the needs of a bank such as Natexis Banques Populaires.It concentrates years of experience in pricing derivatives and brings a powerful tool with the most recent valuation methods."
Furthemore Rene Anger, the CTO of Pricing Partners adds that "The advantage of Price-it® comes from its modularity and the ability to switch between models, numerical methods and calibration processes. It is a key advantage for risk control groups."
About Pricing Partners
Founded by professionals of the trading floor industry, Pricing Partners provides software solutions and consulting services for derivatives independent valuation. Pricing Partners proposes Price-it®, an independent analytic library solution to price complex financial products on different markets (IR, Equity, Credit, Inflation, Hybrids, Commodities and FX).
The Pricing Partners solution enables users to comply with accounting standards evolution as well as regulation evolutions in a capital market industry related to independent valuation issues of OTC products. Price-it® principally targets asset-managers, financial departments of large banks, dealing rooms and audit firms. The company is based in Paris.