Prime Source (NYSE Euronext) Ltd includes CDOVaR.net in its service to
provide rapid independent valuations of synthetic CDOs and index tranches
Prime Source extends CDO2 agreement
London, 8 September 2009
Prime Source (NYSE Euronext) Limited, a wholly-owned subsidiary of the NYSE Euronext group specialising in providing independent valuations
including derivatives and hard to value securities for banks and investment funds, and CDO2 Solutions Limited (CDO2), a market-leading system provider for pricing and risk
analysis for structured credit derivatives, announced today the deployment of an enhanced service for performing independent valuations of structured credit products.
By integrating CDO2's CDOVaR.net Pricing platform into Prime Source's service, customers are able to obtain independent valuations of their bespoke CDOs or off-the-run
index tranches in a timely and efficient manner. This extended service provides accurate, cleansed CDS quotes with automated robust correlation calibration and mapping
techniques required in the current markets.
Marie-Hélène Crétu, CEO of Prime Source, said "We are delighted to be consolidating our existing close working relationship with CDO2. For the past three years CDO2's
market-leading analytics and grid-based technology have given us the capability to handle a wide range of complex synthetic and hybrid credit structures and the flexibility
to deal with the many unique features that we encounter. Combining CDOVaR.net with our existing automated processes will add considerable operational benefits enabling us
to value portfolios of complex synthetic credit structures much faster, bringing real added benefits to our clients whose positions and portfolios we value."
Gary Kendall, Director of CDO2 said "We are very impressed by Prime Source's approach to delivering independent valuations for client portfolios and are delighted to
be strengthening our relationship with them. Their market knowledge and expertise, combined with the market data available to them, gives their independent valuation
service the same capabilities for comprehensive pricing and risk analysis of structured credit portfolios as our customers who run CDOVaR.net directly."
Contacts:
Prime Source
Marie-Hélène Crétu CEO
+33 1 49 27 14 93
mhcretu@nyx.com
Christopher Rose MD
+44 20 7002 1674
christopher.rose@nyxprimesource.com
CDO2
Gary Kendall
+44 845 4564460
gary-kendall@cdo2.com
Notes to Editors
About CDO2 Solutions Limited
CDO2 is a provider of innovative pricing and risk technology for organizations trading structured credit products. More details on CDO2 can be found at cdo2.com.
CDOVaR.net is a structured credit pricing and risk platform built upon industry leading pricing models, market data and reference data. Solutions are available
for trading, product control, risk management and compliance. See cdovar.net for more information.
About Prime Source (NYSE Euronext) Limited
Prime Source, a NYSE Euronext company, is an independent valuation agent empowering customers to make an educated choice on the valuation of their multi asset-class portfolios.
It is a wholly-owned subsidiary of NYSE Euronext, the world's leading, most liquid and diverse exchange group, listed in New York and Paris and recognized for its
independence and broad-based shareholding structure.
Prime Source operates a streamlined valuation service, covering a wide range of financial instruments from plain vanilla to complex structured products and illiquid
securities. It includes an actual data management and quantitative analysis expertise to provide a comprehensive service to any financial institution needing a
valuation of a financial instrument or an independent valuation of a portfolio.
Its secure and reliable process is aligned with accounting and regulatory recommendations and standards and addresses customers' valuation needs. This service
represents a true added value for any customer seeking an external valuation process, ensuring full confidentiality and neutrality.
Prime Source is committed to fostering innovation and improving the overall confidence in the markets by building transparency and reducing operational risks for
financial institutions. This service clearly introduces a new dynamic in the rapidly growing field of portfolio valuation, capitalizing on NYSE Euronext's existing solutions.
For more information, please visit nyxprimesource.com.