OTC Valuations (OTC Val) and ValueLink today announced that independent OTC derivative pricing from OTC Val will be available to ValueLink clients via their established delivery platforms.
Clients who currently receive dealer counterparty data for OTC derivatives via ValueLink products will now also be able to access independent valuations for these instruments generated by OTC Val. This is a significant extension of the current OTC data service provided by ValueLink, which has previously concentrated on counterparty pricing.
Bob Sangha, managing director at OTC Val said "We are very excited to be working with ValueLink in providing an independent valuations solution for OTC derivatives. OTC derivative activity has exploded in recent years but the development of independent valuations of derivative positions has been slower to develop. OTC Valuations is a leading provider of independent valuations of derivatives and other complex financial products and provides a complement to, and verification of, existing counterparty price sources where these are available. In addition, regulatory developments such as IAS 39 and FAS 157 and recent market turmoil have highlighted the need for a truly independent and objective source of valuations for the purposes of compliance and market risk."
Stephen Choate, ceo of ValueLink said "We are delighted to be working with OTC Val in bringing another source of independent OTC derivative valuations to our clients. ValueLink are renowned for helping to reduce operational risk for our users by aggregating and validating many of their existing sources and processes. By presenting independent pricing from OTC Val alongside these sources we are also helping clients to reduce market risk and meet their increasingly onerous regulatory commitments."
The service is expected to by operational in the next two weeks.