Columbus Avenue selects SuperDerivatives' credit platform for hedge fund portfolio pricing
SuperDerivatives, a provider of options pricing and a multi-asset derivatives platform for revaluation and risk management, has announced that hedge fund administrator Columbus Avenue Consulting has selected its SD-CD credit derivatives platform to price its clients' portfolios.
Columbus Avenue, which has more than USD6.5bn in assets under administration and some 45 employees worldwide, offers full onshore and offshore administrative services to hedge fund and fund of hedge fund clients.
'With credit derivatives increasingly prevalent in our hedge fund client's portfolios, we needed an independent accurate and reliable pricing and analytics solution,' says Columbus Avenue president and chief executive Joseph Holman. 'We chose SuperDerivatives' SD-CD after confirming the platform's accuracy by comparing the prices it produces with actual traded prices and dealer quotes.
'We found SD-CD to be the only system of its kind to be fully inclusive with all needed historical and real-time data feeds. It is also proving a tremendous boost to our productivity as SD-CD enables us to track all of our portfolios on one screen.
'Efficiency has been further enhanced by SD-CD's short learning curve and intuitive design, allowing us to increase both the range and quality of our services in a very short time, significantly improving our competitiveness.'
An integral part of the SuperDerivatives multi-asset real-time pricing and analytics platform, SD-CD covers a broad variety of credit default single names including sovereigns, agencies, corporates and municipals, as well as credit default indices.
It also includes a calibrated pricing model for bespoke synthetic tranches to facilitate efficient and transparent hedging and risk management of collateralised debt obligations. The SD-CD platform provides intraday pricing relying on tradable two-way data from multiple sources, portfolio utilities and all market risk metrics.
'We are delighted to welcome Columbus Avenue to our global customer roster of hedge funds and other sell-side and buy-side institutions in both the front and middle office,' says SuperDerivatives credit product manager Sasha Rozenberg. 'SD-CD has proven an exceptionally accurate platform, consistently producing rates that reflect the inter-dealer market consensus prices and spreads.
'There is increasingly strong demand for this level of accurate pricing and risk management functionality for credit derivatives. In 2008 we will continue to expand the coverage and functionality of the system for the benefit of all market participants.'
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