AXA Hedging Services selects Pricing Partners for interest rates derivatives

Source: Pricing Partners

Pricing Partners, the independent valuation expert for financial derivatives and a leading provider of analytics, risk management and online pricing solutions, announced that AXA Hedging Services has chosen Price-it Excel to value some of its interest rates derivatives.

"We were looking for a solution that could support not only pricing but also additional analysis of our interest rates derivatives asset portfolio, as part of our hedging program. Price It enables us also to challenge prices given by our counterparties, with the same pricing accuracy as major investment banks. Besides, we wanted a flexible and generic solution. After testing this library, we found that Price-it was answering our selection criteria. Pricing Partners solution is part of our tools and should bring value in our general setup, specifically in terms of improved risk management of our interest rates derivatives books, " explains Laurent Bourlard, CEO of AXA Hedging Services.

Pricing Partners pricing solution is available within Excel and can rapidly quantify the impact of a change in a derivatives portfolio. Available for all major asset classes of derivatives, it uses Pricing Partners proven analytics and models, providing unmatched coverage and true market values for an extremely broad range of vanilla and exotic instruments.

"We are delighted to sign with AXA Hedging Services. AXA Hedging Services is a major reference in the fields of insurance," said Eric Benhamou, CEO of Pricing Partners. "Recent market turbulences have emphasized the need for systematic and independent valuation. Our combination of expertise on pricing, modelling and calibration makes Pricing Partners a leading provider of independent valuation solution."

Launched in 2006, the Price-it financial library covers a wide scope of products from Interest Rates to Stocks, through Equity, Credit, FX, Commodities, Life Insurance and Hybrids products. With the Excel interface, Price-it answers a two-pronged needs: strong flexibility for Risk Management and pricing validation for derivatives.

"With identical pricing capabilities to those of large investment banks, Price-it has proved to be the most suited solution to go with the pricing and sensibilities controls on our derivatives portfolio" confirms Laurent Bourlard, CEO of AXA Hedging Services.

AXA Hedging Services has chosen Price-it after a rigorous assessment of the multiple benefits of a third party pricing solution. "The decision of AXA Hedging Service, which has a very strong expertise in derivatives products, is a strong sign of credibility for Pricing Partners. The software responds to a real demand from the market in terms of independent valuation on a wide range of derivatives products", said Eric Benhamou, President of Pricing Partners. "As we continue our international development, we are very pleased to have such an important client as AXA Hedging Services which allows us to grow in the insurance sector"

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