Consumers Seek More Granularity
Chris Richmond, vice president of global products at Bank of New York Mellon, told attendees that the bank seeks out independent data sources and looks to capture data from multiple vendors when pricing client portfolios. Currently, the bank's valuation team looks for at least three sources of data on over-the-counter derivatives, bank loans and private equity from different vendors, and where data is not available, it seeks data from other sources-for example, funds of hedge funds only provide
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