SIX Financial Information and Numerix have signed a partnership agreement to produce valuations for a wide range of vanilla and over-the-counter (OTC) derivatives as part of the Evaluated Pricing Service (EPS). The new service complements SIX Financial Information’s proprietary pricing for fixed income products by expanding client’s options to value a wider range of their portfolio in a consistent and reliable manner.
The partnership involves SIX Financial Information deploying Numerix analytics in its EPS infrastructure to broaden and enhance coverage of OTC derivative instruments. The first phase of the partnership has already been developed and includes interest rate swaps and credit default swaps (CDS). Additional asset classes will be added to the service incrementally over the coming months.
Steven O’Hanlon, president and chief operating officer (COO) of Numerix, says: “Clients of SIX Financial Information’s pricing service will benefit from the most comprehensive instrument coverage in the industry as well as our powerful analytics platform and cross-asset library of market-tested models for pricing complex structured products and derivatives.”
However, a London summit on the industry’s introduction of the technology cautions that testing and acceptance are still at an early stage and firms should proceed with caution.
The Danish shipping and oil conglomerate confirmed that it will separate its businesses into stand-alone transport and energy divisions.
The central bank has tweaked its stimulus programme and is making a fresh effort to push Japan’s inflation rate above its 2% target.
A total of US$4.88 trillion of debt has been sold so far this year reports Dealogic, close to the level of 2007 when US$4.91 trillion of bonds were issued over the same period.