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Prime Source, a NYSE Euronext-owned provider of independent valuations of multi asset-class portfolios, has announced that its service will include bond evaluations from the pricing and reference data business of Interactive Data Corporation, a provider of financial market data, analytics and related services.
Prime Source says the 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 last year, Prime Source is an independent 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.
It allows users to access prices and evaluations from different sources, including markets, dealer contributions and valuation models.
Interactive Data offers daily evaluations for approximately 2.5 million fixed income and international equity issues.
Marie-Héléne Crétu, chief executive of Prime Source, says: '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), adds: '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.'
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