Prime Source, a NYSE Euronext company, providing an independent and comprehensive service for the valuation of multi asset-class portfolios, today announced an enhancement to its global service. It will include bond evaluations from the Pricing and Reference Data business of Interactive Data Corporation (NYSE: IDC), a leading provider of financial market data, analytics and related services, as an additional source to contribute to valuations offered to its customers.
This announcement comes at a time of increasing demand for valuation services, with regulators and institutional investors calling for greater transparency and independence in the valuation of complex securities.
Launched in February 2008, Prime Source is an independent, comprehensive valuation service, offered on a web-based platform designed to meet professional market participants’ needs for valuation of large, global portfolios covering a wide range of asset classes and financial instruments, from plain vanilla to the most complex structured products and illiquid securities.
Prime Source allows users to access prices and evaluations from different sources, including markets, dealer contributions and valuation models. Offering both automated and tailor-made valuation services, Prime Source is designed to provide transparency and help users to comply with relevant regulations and accounting standards when carrying out their daily valuations.
Interactive Data is a leading independent provider of daily evaluations for fixed income securities. With over 30 years of experience, Interactive Data offers daily evaluations for approximately 2.5 million fixed income and international equity issues. Thousands of financial institutions worldwide, ranging from central banks to large investment banks, subscribe to Interactive Data’s bond evaluations. The evaluations include corporates, high yields, governments and agencies, securitised debt issues, ABS, CMBS and CMOs, US municipal securities, hybrid securities and money market securities.
Marie-Héléne Crétu, CEO of Prime Source, said: “The availability of Interactive Data’s bond evaluations will enhance the combination of valuation services available via Prime Source. Through Prime Source, users can obtain the information they need to facilitate their valuation process in one single, independent source, allowing them to make an educated choice on pricing and valuation for complex and diverse instruments within their portfolio.”
Brendan Beith, Sales Director, Interactive Data (Europe), added: “Independent bond evaluations have become even more important in these volatile financial markets and against the background of increased regulation. Institutions need to have a firm grasp on the value of their holdings – especially thinly traded fixed income securities. We place great emphasis on making our services available through a broad range of third parties, and are delighted that Prime Source will be offering our breadth of bond evaluations.”
About Prime Source
Prime Source, a NYSE Euronext company, is an independent valuation agent empowering customers to make an educated choice on the valuation of their multi asset-class portfolios.It is a wholly-owned subsidiary of NYSE Euronext, the world’s leading, most liquid and diverse exchange group, listed in New York and Paris and recognized for its independence and broad-based shareholding structure.
Prime Source operates a streamlined valuation service, covering a wide range of financial instruments from plain vanilla to complex structured products and illiquid securities. It includes an actual data management and quantitative analysis expertise to provide a comprehensive service to any financial institution needing to value a financial instrument or assess its valuation.
Its secure and reliable process is aligned with accounting and regulatory standards and addresses customers’ valuation needs. This service represents a true added value for any customer seeking an external valuation process, ensuring full confidentiality and neutrality.
Prime Source is committed to foster innovation and improve the overall confidence in the markets by building transparency and reducing operational risks for financial institutions.This service clearly introduces a new dynamic in the rapidly growing field of portfolio valuation, capitalizing on NYSE Euronext’s existing solutions.
For more information, please visit www.nyxprimesource.com
About Interactive Data Corporation
Interactive Data Corporation (NYSE: IDC) is a leading global provider of financial market data, analytics and related services to financial institutions, active traders and individual investors. The Company's businesses supply real-time market data, time-sensitive pricing, evaluations and reference data for millions of securities traded around the world, including hard-to-value instruments. Many of the world's best-known financial service and software companies subscribe to the Company's services in support of their trading, analysis, portfolio management and valuation activities. Through its businesses, Interactive Data Pricing and Reference Data, Interactive Data Real-Time Services, Interactive Data Fixed Income Analytics, and eSignal, the Company has approximately 2,300 employees in offices located throughout North America, Europe, Asia and Australia. The Company is headquartered in Bedford, Mass. Pearson plc (NYSE: PSO; LSE: PSON), an international media company, whose businesses include the Financial Times Group, Pearson Education, and the Penguin Group, is Interactive Data Corporation's majority stockholder.
Interactive Data Pricing and Reference Data provides global securities pricing, evaluations and reference data designed to support financial institutions’ and investment funds' pricing activities, securities operations, research and portfolio management. Interactive Data Pricing and Reference Data collects, edits, maintains and delivers data on more than 6 million securities, including daily evaluations for approximately 2.5 million fixed income and international equity issues. Interactive Data Pricing and Reference Data specialises in ‘hard-to-get’ information and evaluates many ‘hard-to value’ instruments.
Pricing, evaluations and reference data are provided in the US through Interactive Data Pricing and Reference Data, Inc. and internationally through Interactive Data (Europe) Ltd. and Interactive Data (Australia) Pty Ltd.
For more information about Interactive Data Corporation and its businesses, please visit www.interactivedata.com.
Interactive DataSM and the Interactive Data logo are service marks of Interactive Data Corporation.
