Paris-London: Pricing Partners (www.pricingpartners.com), the independent valuation expert and a world leader in mathematical models and analytics for derivatives and structured products, announced today that one of the largest British Banks has selected Price-it Online, Pricing Partners’ independent valuation platform, for the valuation on an advanced equity structured product that is both path dependent and American style, as well as contingent to a large quantity of shares.
In accordance with the best practices in the sector, this bank, which is one of the largest British Banks and therefore wishes to remain anonymous, was looking for a reliable and recognized solution to provide a fair and accurate valuation on its structured product “Callable Putable Captain”. The valuation of this note is very challenging as it is a medium-long term product (8 years) and provides a capped and floored arithmetic average on the yearly return of a sum of 20 shares, additionally callable and putable after the 6th year. After an assessment of the available solutions, the bank chose Price-it® Online, Pricing Partners’ online platform, because of the accuracy of its valuations and its strong expertise in the field of valuation on OTC derivatives.
Eric Benhamou, CEO of Pricing Partners comments “This prestigious British bank is a key reference for us, meanwhile, a reward for our professionalism and our valuation service quality. We feel very proud and grateful for the confidence it reflects on our team. With this new client reference, we take an important step forward towards even greater recognition for our pricing models, our tools and our independent valuation platform. Hereby, we are underway to becoming the leading player in the field of transparency on the financial derivatives and structured products.”
Founded by former professionals of the trading floor, working in investment banks like Goldman Sachs, Société Générale, Natixis or HSBC, Pricing Partners has become over the last two years a major player. In October 2008, it launched its Internet independent valuation platform, Price-it® Online, which affirms its leading place in the financial modeling as well as independent valuations provider. Designed for all major assets like Interest Rates, Equity, Inflation, Credit, Foreign Exchange, Commodities, and Life Insurance to Hybrid products, Price-it® comes either as a software tool or an Internet Platform, providing all the tools for the transparent valuation on structured products. Price-it® online uses cutting edge mathematical models together with a new language to describe the complexity of any structured products.
About Pricing Partners
Set up by former professionals of the trading industry, Pricing Partners offers accurate solutions for derivatives products valuation, pricing tools and risk analytics. Thanks to Price-it online, a SaaS platform, Pricing Partners provides independent valuation from the vanilla to the most exotic financial products on most assets (Interest Rates, Fixed Income, Equity, Inflation, Credit, Foreign Exchange, Commodities, Life Insurance and Hybrid products). Pricing Partners develops and commercializes Price-it Excel, an analytic and independent pricing library using a generic payoff language description which allows the pricing of virtually any financial derivatives. Price-it also supports VaR, CVaR and the most common risk management tools. Pricing Partners is the only company completely mastering the chain of valuation, developing both its own pricing library and a valuation platform, which give its clients very accurate and reliable valuation as a result of its intrinsic knowledge of the pricing tools. Pricing Partners solutions can be used by investment banks, buy side firms, hedge funds, financial departments, trading rooms and audit firms.
Pricing Partners has also signed numerous partnerships to distribute its technology with leading institutions like NYSE Euronext (for its independent valuation service via Prime Source), Misys (for its pricing library integrated into Summit), CMA, Fitch Solutions or Lexifi. It is a Microsoft IDEES partner, an IBM, Sun, Datasynapse and ActiveEon partner. Furthermore, it is a member of the grid research consortium GCPMF uniting BNP Paribas, Calyon, Ecole Centrale, EDF, ENPC, INRIA, Natixis, Misys, Pars VI University and Supelec and a global coordinator of the Credinext consortium, in collaboration with Prime Source, Lunalogic, Ecole Polytechnique, ENPC, University of Marne La Vallée and INRIA.