Rye Brook, New York-based OpHedge Investment Services, a middle- and back-office fund administrator, has announced an agreement to provide clients
Rye Brook, New York-based OpHedge Investment Services, a middle- and back-office fund administrator, has announced an agreement to provide clients with access to Markit’s portfolio valuations and credit default swap reference data services.
Markit offers independent pricing, valuations and trade processing services to help market participants manage risk, improve operational efficiency and meet regulatory requirements.
As part of its strategic relationship with Markit, OpHedge will provide clients with access to Markit’s independent portfolio valuations service for over-the-counter derivatives in addition to Markit Reference Entity Database, which is used throughout the CDS market.
“Our partnership with Markit expands OpHedge’s robust valuation capabilities further,” says OpHedge chief information officer Jeff Li. “Through Markit, we now have access to more than 1.3 million daily data points from more than 95 leading market makers that allow us to value a wide range of assets, including the most complex and exotic OTC derivatives.”
OpHedge says its relationship with Markit will enhance the way the firm supports its client base of managers and funds with complex trading strategies. “OpHedge is particularly adept at processing the most complex financial products across multiple asset classes and currencies,” Li says. “Current market conditions have increased the demand for enhanced valuation services.”
Established in 2005, OpHedge administers USD35bn in assets, providing middle and back office solutions for alternative investment managers. In addition to its headquarters in Rye Brook, OpHedge has subsidiaries and offices in Grand Cayman, Shanghai, Singapore and Manhattan.
Markit has more than 1,000 employees in Europe, North America and the Asia-Pacific region and provides services to more than 1,000 financial institutions.
