CMA, the credit information specialist, today announced that BlueCrest Capital Management, a leading European hedge fund manager with approximately $11.5bn under management, has selected CMA to help its equity derivatives and credit derivative desks to effectively manage their live tradable prices (QuoteVision) and accurately mark-to-market (DataVision).
BlueCrest believes in a specialist model. It employs teams of market specialists across numerous disciplines, all operating with state-of-the-art proprietary analytical technology. This encourages portfolio managers to run broad overall portfolios with significantly reduced concentrated risk and can allow focus on smaller, more esoteric anomalies that are often overlooked.
"We initially selected CMA's independent price verification service, DataVision, to feed our internal pricing and risk models because we feel that CMA's buy-side contribution model more accurately reflects true market prices" said Jonathan Martin, Principal at BlueCrest. "When our traders wanted an effective price discovery service, it was natural for us to review QuoteVision from CMA. QuoteVision was found to be the best in its category, and given that we like working with CMA, it was an easy choice."
QuoteVision, the market leading real time OTC credit market price discovery service, scans free form messages, extracts pricing information, and stores it in a client side database. QuoteVision covers a broad range of asset classes; quotes are matched to industry standard ISIN codes, so traders can be sure that prices are correctly identified. QuoteVision's proprietary artificial intelligence based parsing service combined with CMA's data editorial team ensures that QuoteVision continuously recognises new securities, tickers, entities and name changes resulting from corporate actions.
CMA DataVision is a high quality same day consensus-based price verification data service for CDS, Indices and Tranches, used primarily for mark-to-market, flash P&L, research and analytics. DataVision is sourced from CMA's Data Consortium of 30 buy-side firms, including leading global investment banks, hedge funds and asset managers, who continuously provide average CDS spreads (single name CDS, indices and tranches) based on indicative observed quotes. DataVision is delivered by 5pm London and 5pm New York time, giving customers a timely market view and enabling more accurate mark-to-market and flash P&L analysis.
Laurent Paulhac, CMA's CEO, commented "BlueCrest has achieved consistently good performance in this highly competitive market. We are proud to have been selected to assist in BlueCrest's continuing rapid growth".