Interactive Data Corporation, a leading provider of independent evaluated pricing, valuation and reference data services, today announced the release of a new set of transparency and workflow enhancements to Vantage.
Vantage provides transparency into the fixed income markets and Interactive Data's evaluation services, including combining market data such as FINRA TRACE® and MSRB data in a single application. The enhanced Vantage Price Validation Workflow module will enable buy-side and sell-side firms to more efficiently manage their price review process, thereby reducing the operational cost of meeting current regulatory requirements.
The Vantage Price Validation Workflow serves as the central hub for client validation activities by replacing the typically manual, spreadsheet- and paper-based price review process. Additionally, it automates the loading of portfolio, market, and exceptions data files, enabling users to review a range of market and assumptive data alongside Interactive Data's content within a user-friendly interface.
The new Vantage module helps to increase productivity and improve valuation best practices through the introduction of automated routines and price tests that build upon the manual processes followed today. For example, users can verify the availability of observable market inputs to support fair value hierarchy determinations under U.S. GAAP and IFRS. It also aids risk management processes by aggregating data often manually consolidated through a mix of paper printouts and spreadsheets into a standardized set of reports.
"The enhanced Vantage Price Validation Workflow is designed to bring efficiency and automation to the pricing and trade review process and to help firms meet very tight timeframes to support regulatory, Topic 820, and IFRS 13 transparency requirements," said Mark Hepsworth, President, Pricing and Reference Data at Interactive Data. "In addition, Vantage reports help to facilitate oversight by boards of directors and valuation committees. We have examined the operational issues faced by firms to understand the pain points, and are evolving Vantage to help solve everyday workflow processes."