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NYSE Euronext (NYX) today announced the launch of Prime Source, a new independent comprehensive valuation service. This innovative solution is designed to meet professional buy-side market participants’ needs for valuation of large, global portfolios of complex structured products and illiquid securities. Customers' valuation needs will be facilitated by efficient and sophisticated processes supported by Prime Source's unique, web-based technical infrastructure.
Prime Source allows users to access prices and valuation from different sources, including markets, dealer contributions, and valuation models. Offering both automated and tailor-made valuation services, Prime Source assists users in answering on a daily basis valuation issues in compliance with relevant regulations and accounting standards.
Prime Source’s valuation service works with the EuronextValue platform, which provides buy-side participants with bond and debt instrument market information and allows for the computation of asset valuations in compliance with applicable regulatory requirements. Prime Source also integrates the robust technology and processes developed by IVRS Ltd. that allow for the automated daily valuation of products in fixed income, credit and equity.
“The Prime Source valuation hub will offer a unique combination of valuation services that gives users the possibility to find in one independent, neutral place all the information they need to facilitate their valuation process,” said Roland Bellegarde, NYSE Euronext Head of European Cash Markets.
“Prime Source will be a key component of our offer in the securities value chain,” added Marie-Hélène Crétu, Director of Fixed Income of NYSE Euronext and CEO of IVRS Ltd. “The acquisition of IVRS Ltd and the addition of Prime Source to our product line constitutes a major step forward in a business we intend to develop even further, capitalizing on our existing solutions.”
About NYSE Euronext
NYSE Euronext (NYX) operates the world’s leading and most liquid exchange group, and seeks to provide the highest levels of quality, customer choice and innovation. Its family of exchanges, located in six countries, include the New York Stock Exchange, the world's largest cash equities market; Euronext, the Eurozone's largest cash equities market; Liffe, Europe's leading derivatives exchange by value of trading; and NYSE Arca Options, one of the fastest growing U.S. options trading platforms. NYSE Euronext offers a diverse array of financial products and services for issuers, investors and financial institutions in cash equities, options and derivatives, ETFs, bonds, market data, and commercial technology solutions.
NYSE Euronext's nearly 4,000 listed companies represent a combined $30.5 trillion/€20.9 trillion in total global market capitalization (as of Dec. 31, 2007), more than four times that of any other exchange group. NYSE Euronext's equity exchanges transact an average daily trading value of approximately $141 billion/€103 billion (as of Dec. 31, 2007), which represents more than one-third of the world's cash equities trading. NYSE Euronext is part of the S&P 500 index and the only exchange operator in the S&P 100 index. For more information about NYSE Euronext, please visit www.nyx.com.
