Pricing Partners, the independent valuation expert for financial derivatives and a leading provider of pricing analytics systems, announced today that it has definitely confirmed its choice of Thomson Reuters DataScope to feed its independent valuation platform with accurate market data.
Pricing Partners uses Thomson Reuters market data to calculate independent valuations using its proprietary pricing model.
In attempt to bring more transparency on OTC derivatives and structured products, Pricing Partners launched in October 2008 Price-it online, an independent valuation platform based on its cutting edge models and analytics Price-it library. Valuations are available for all major asset classes: interest rates, credit, foreign exchange, equities, inflation, commodities, life insurance, energy and hybrids and covers all common derivatives from plain vanilla to the most complex structured products and illiquid securities. The platform has been recently selected by Prime Source, a NYSE Euronext, to extend its valuation service offering. It has also been at the heart of a strategic technical partnership with Microsoft to provide a showcase for new .net technologies in the field of financial markets. Under the commercial agreement, Pricing Partners will use its Thomson Reuters DataScope to feed the valuation platform with high quality and accurate market data.
Eric Benhamou, CEO of Pricing Partners and former Goldman Sachs quant, said, "As our customers expand into new markets and geographies to trade a growing list of complex financial instruments, we must ensure that we have accurate and reliable market data. After testing various market data providers, we found that Thomson Reuters Datascope licence and market data were very reliable and could be the high quality fuel for our independent valuation platform with very large asset coverage."
Pricing Partners has chosen Thomson Reuters DataScope after a rigorous assessment of the multiple benefits of Thomson Reuters market data both in terms of coverage and quality of market data. Pricing Partners compared the various solutions of the major market data provider and found Thomson Reuters DataScope substantially better compared to other major market data sources.