Tullett Prebon Rolls Out New Price Verification Service

The new service uses heavy automation to enable flexibility.

Brokerage Tullett Prebon has announced the launch of its new over-the-counter (OTC) derivatives price verification service, aimed at high-volume portfolios, through its OTC Valuations business.

The new service covers products ranging from vanilla to complex, and charges a typical valuation at $0.20, keeping its price low through automated processes. Market data verification, portfolio trade loading, model calibration report generation and valuation report delivery, are all now machine-controlled.

"Since opening the business in 2007, automation of error-prone, manually intensive processes has always been a key part of our architectural blueprint for system development," says Miroslav Vanous, head of EMEA at OTC Valuations. "This latest release of our in-house valuation technology allows our analysts to spend most of their time on modeling the most complex structures, as we have ‘systematized' the work that many firms continue to do in spreadsheets, including market data management and cleansing."

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