Source: Bank of New York
The Bank of New York, a global leader in securities servicing, has expanded its independent valuation service for a broad spectrum of over-the-counter (OTC) derivative products and asset classes to include European swaptions, foreign exchange options and OTC equity options.
The Bank already provides valuation services for interest rate swaps and credit default swaps.
The Bank's clients have access to daily valuations of their global OTC derivative portfolios as part of the comprehensive account information available to them through INFORM, the Bank's Internet-based information delivery and transaction platform.
"As greater numbers of institutional investors include the use of derivatives in their investment strategies, the demand for independent pricing has never been greater," said Richard P. Stanley, executive vice president and head of Global Investor Services Product Management and Accounting Services at The Bank of New York. "This expansion of our service greatly enhances our ability to report on OTC derivatives valuations, which improves our clients' capacity to monitor and assess their holdings as well as understand and manage their risks."
As one of the world's leading custodians and administrators to fund companies and plan sponsors, Stanley stressed that the Bank's derivatives- related offerings represent a core competency that will grow in sophistication as such clients increasingly utilize derivatives globally.
In addition to independent valuations of derivatives, the Bank recently established a derivatives product team led by Ahmad Sharif, managing director within Global Investor Services, which is focused on creating a comprehensive end-to-end process for servicing derivatives used by hedge funds and institutional investors.