OTC Valuations (OTC Val) today announced that BancorpSouth Bank has gone live with OTC Val’s derivative valuation service.
David Ferrell, senior vice president of BancorpSouth Bank said "We are pleased with our decision to engage OTC Val as a price verification service provider of our OTC derivatives portfolio. They have met or surpassed expectations in terms of timeliness of reports and responsiveness to valuation queries. OTC Val’s expertise, professionalism, and accurate and transparent results are a cost effective solution that have addressed our audit and valuation requirements."
Bob Sangha, managing director at OTC Val said "As auditors increase their scrutiny of counterparty pricing, institutions are increasingly turning to third party valuation service providers to verify the market value of their derivatives portfolio. Ongoing regulatory mandates and continued market turmoil have highlighted the need for a truly independent and objective source of valuations for the purposes of compliance and market risk. As an independent valuation source, OTC Val helps organizations address their valuation requirements by delivering valuation reports for vanilla and complex derivative securities."
BancorpSouth Bank joins OTC Val’s growing list of clients, which include hedge fund administrators, financial service providers, as well as financial and non-financial institutions.