SuperDerivatives®, the benchmark for derivatives pricing and the leading provider of multi-asset front-office systems, risk management, revaluation and online options trading solutions, today announced it has been chosen by A.P. Moller Maersk Group to perform independent valuations for its energy options and swaps.
The A.P. Moller Maersk Group employs about 110,000 people in 130 countries. Beyond its worldwide container shipping operations and related activities, it is also involved in a wide range of activities within the oil and gas, tankers, offshore, shipbuilding, retail and manufacturing industries. Maersk Oil is a midsize international oil and gas company operating an oil production of more than 600,000 barrels per day and a sales gas production of up to 1,000 million cubic feet per day.
"With our unique position in the oil market as both producer and consumer, the A. P. Moller Maersk Group currently holds a portfolio of about 900 energy options and swaps. In order to achieve best practice standards and adhere to our corporate governance policies, we needed a third party valuation service we could depend on to complement our own in house systems. After reviewing the available valuation solutions, we came to the conclusion that the best product for the A. P. Moller Maersk Group was SuperDerivatives," said Thomas Skytte, head of middle office & risk management, Maersk Oil Trading, which is responsible for hedging the Group’s oil price risk. "We found SuperDerivatives’ platform to be unique. It provides a one-stop-shop solution, including all market data and modelling. This not only facilitates valuation since we are not required to input our own data and curves, but also yields accurate valuations which corroborate our internal calculations."
With energy prices reaching all time highs, the prudent use of energy derivatives is becoming more accepted by corporate treasuries, banks, hedge fund administrators and other financial participants. SuperDerivatives meets this challenge by supporting a wide range of vanilla and exotic instruments and underlying energy products with pricing, risk management and revaluation solutions. In addition to energy derivatives, SuperDerivatives supports foreign currency, interest rates, commodities, equities and credit. It can be leveraged as an automated independent portfolio revaluation service performed by SuperDerivatives Revaluation Center or as mark-to-market data including volatility surfaces, correlation data, yield curves and dividends that are easily integrated into internal systems.
SD-Revaluation is powered by SuperDerivatives’ award-winning benchmark pricing model and provides unmatched coverage and true market values for an extremely broad range of vanilla and exotic instruments.
"We are delighted that A.P. Moller Maersk, one of the world’s largest corporations, has chosen SuperDerivatives to value its energy derivatives portfolios after seeing that our revaluation service provides results that coincide with inter-bank prices," said Dani Weigert, head of revaluation services, SuperDerivatives. "In 2006 during a time of financial turmoil involving the energy markets, SuperDerivatives increased its expertise in this sector with many hedge funds and prime brokers turning to us for derivatives pricing and valuations. Our unique combination of award-winning, real-time derivatives data and a unique model that generates true inter-bank prices, while matching all market conventions has made SuperDerivatives a leading provider of independent revaluation services for the buy and sell side."