Pricing Partners, the world leader in OTC derivatives pricing analytics, mathematical models and independent valuations, announced today that it has been mandated by KfW Bankengruppe (KfW), one of the largest government-owned banks in Germany based in Frankfurt, as its first German client.
KfW will deploy Price-it Library, the OTC derivatives pricing analytics, and Price-it Online, the independent valuation services, to provide pricing and valuation on their trading products.
KfW was looking for an external independent pricing tool and valuation service to back-test and double check their trading products prices. Pricing Partners' derivatives pricing tool stood out for its accuracy on the calibration methods and models, user-friendly interface and efficient support services. Besides, KfW is also benefited from Price-it Online and its advanced features such as the Price-it Online Analytics function and the on-demand pricing function, which will enable them to achieve higher level of transparency, independence and flexibility.
Price-it Online Analytics leverages its MS Excel add-in financial library to extend the pricing and risk management capabilities of the whole derivatives portfolio valuation. Users of KfW can export their entire trade at a valuation date to an Excel sheet through an xml document and audit all steps of a product valuation.
"Pricing Partners' independent derivatives pricing and valuation solution (Price-it Library and Price-it Online) convinced us by the quality and flexibility of their pricing system, such as the calibration methods and models, which helps us smoothen the model validation process," says Holger Brinkhaus, Vice President, head of Quantitative Analysis Trading at KfW Bankengruppe. "We are also very impressed by the efficiency and the professionalism of their client support team. We are looking forward to working with Pricing Partners closely."
Eric Benhamou, CEO at Pricing Partners comments "We are very pleased to have KfW as a new client. KfW is an important reference for us in the German market and should open for us new doors both in Germany and other C.E.E countries."