NYSE Euronext to launch independent valuation service Prime Source
NYSE Euronext has announced the launch of Prime Source, an independent valuation service supported by a web-based technical infrastructure that is designed to meet the needs of professional buy-side market participants for valuation of large global portfolios of complex structured products and illiquid securities.
Prime Source aims to allow users to access prices and valuation from different sources, including markets, dealer contributions, and valuation models. Offering both automated and tailor-made valuation services, the new service is designed to answer valuation issues on a daily basis 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. It also integrates technology and processes developed by group subsidiary IVRS to provide automated daily valuation of fixed income, credit and equity products.
'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, head of European cash markets at NYSE Euronext.
Marie-Hélène Crétu, director of fixed income of NYSE Euronext and chief executive of IVRS, adds: 'Prime Source will be a key component of our offer in the securities value chain. The acquisition of IVRS and the addition of Prime Source to our product line constitutes a major step forward in a business we intend to develop even further, capitalising on our existing solutions.'
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