JP Morgan Chase, Bank of America, Deutsche Bank and Bank of Montreal have signed up to receive GFI Group's FX option revaluation fixings service.
Interdealer broker GFI says the service provides risk managers with independent, real time and historical market data, enabling them to accurately and independently revalue FX derivative portfolios.
Additionally, accounting regulations such as FAS 133 and IAS 39 require all derivatives to be measured at fair value - calculations which depend upon access to independent data.
James Watson, global head of sales, GFI, says risk managers are concerned about the quality of data, that it meets regulators' requirements and that it can be delivered conveniently.
"GFI is able to provide treasurers and risk managers with GFI's comprehensive 'revaluation fixings' data that reflects actual transactions in an efficient way, either through its Fenics FX interface or in easily downloadable format," says Watson.