Recognizing the need of financial markets for readily accessible and comprehensive pricing capabilities across a broad spectrum of cash, structured and derivative instruments, Standard & Poor’s Securities Evaluations, Inc. (SPSE), a leading global provider of independent securities evaluations, and SuperDerivatives®, a leading provider of derivatives pricing, revaluation and risk management solutions, today announced that they have signed an agreement to establish a strategic sales and marketing alliance to combine their valuation offerings for fixed income securities (cash and structured products) and all major OTC (over the counter) and exchange- traded derivative asset classes into one sales and marketing channel.
This new alliance will offer the broadest coverage of asset classes and geographical reach available, combining the technological and market strengths of both companies. The joint offering will help market participants manage investment and operational risk and regulatory compliance more easily and effectively across a vast range of securities.
"Our clients increasingly demand more global coverage and depth for their derivatives portfolio valuations. In SuperDerivatives we believe we have found the ideal alliance partner to create the most comprehensive and robust global coverage possible from one offering," said Lou Eccleston, executive managing director, Standard & Poor’s. "For more than 35 years, Standard & Poor’s Securities Evaluations has been a leader in providing daily independent, mark-to-market valuations for market participants of all sectors. Joining forces with SuperDerivatives teams us with a leader in OTC and exchange-traded derivatives valuation and together we will form the largest independent revaluation service in the combined cash and derivative market place."
The joint Standard & Poor’s Securities Evaluations-SuperDerivatives (S&P-SD) offering will provide both companies’ models and market data-based pricing services to provide independent valuations for global instruments, including government, municipal and corporate bonds, syndicated loans, asset and mortgaged backed securities and money market instruments. Additionally, the services will cover "vanilla" and "exotic" OTC derivatives as well as exchange-traded derivatives on major asset classes including foreign currency, interest rates, commodities, energy, equities and credit.
"This commercial venture between SuperDerivatives and Standard & Poor’s Securities Evaluations is aimed at enabling our customers from developed and emerging markets to effectively value the widest range of products in a single offering," said David Gershon, SuperDerivatives chief executive officer. "Whether they are from the buy or sell side, our customers will benefit from a ‘one stop shop’ experience with the objective of delivering the most accurate and reliable valuation service with significant economy of scale advantages. I believe that this alliance will form a new global standard for independent valuation service."