StatPro Group, a leading provider of portfolio analytics and data solutions for the global asset management industry, today announced the launch of a system for pricing complex financial assets.
The software-as-a-service initiative covers instruments such as Interest Rate Swaps, Credit Default Swaps on single names and baskets, FX Forwards and Equity Options - that need a 'complex' valuation model and traded market data to be priced. As well as delivering prices, complex asset pricing (CAP) also has a unique 'pricing challenge' process that allows clients to query the price that they receive using a fully transparent approach.
"The Price Challenge is unique in the market. Other companies provide pricing data, but we can take the 'mystery' away from the process," said Dario Cintioli, Global Head of Risk at StatPro. "The purpose of a Price Challenge is to understand the origin of a difference between pricing sources. The Price Challenge then allows the client to act based on reliable information."
The service is aimed at performance teams, valuation teams, auditors and back office staff at large or small investment management firms, custodians and hedge funds if they are managing, administering or are investing in assets of a complex nature. Other instruments will be added in early 2009, including Equity Certificates and FX Options. To ensure independence, the service uses multiple sources for input data, along with QuantLib2, StatPro's own proprietary financial library.
"CAP is the culmination of StatPro's analytical capabilities and 40 years' experience of providing data to the financial industry," said Justin Wheatley, CEO at StatPro. "It's about bringing transparency and clarity into the pricing process and delivering true valuations," he added.