Nyse Euronext has launched Prime Source, a Web-based service that enables asset managers to access resources for the daily valuation of large, global portfolios of complex structured products and illiquid securities.
Prime Source allows users to access prices and valuation from sources including markets, dealer contributions and valuation models.
Nyse Euronext says the online service, which complements the EuronextValue platform, offers both automated and tailor-made valuation services and helps ensure compliance regulations and accounting standards.
"The Prime Source valuation hub will offer a unique combination of valuation services that gives users the possibility to find in one independent, neutral place all the information they need to facilitate their valuation process," says Roland Bellegarde, head of European cash markets, Nyse Euronext.
The new service comes just weeks after Reuters launched a pricing service that delivers bespoke valuations for derivatives and complex securities.
Reuters said its service aims to speed up the process of valuing complex securities. Customers can request a price for bespoke transactions, with completely transparent Reuters pricing and methodology behind each valuation.
Up-and-coming pricing outfit Markit offers a similar service for credit derivatives.
Nyse Euronext's Prime Source integrates technology and processes developed by Independent Valuation and Risk Services (IVRS), which the US exchange has acquired from Lombard Risk Management.
London-based Lombard said yesterday that it has sold its IVRS subsidiary to Nyse Euronext subsidiary Liffe for £700,000, plus a deferred amount based on revenues that are achieved from certain named customers over the next year.
Lombard said it had also signed contracts for the supply of software and services, including its Firmament valuation software, to IVRS.