Interactive Data Corporation’s Pricing and Reference Data business has introduced a service that will automate the delivery of independent valuations of interest rate swaps.
With the new interest rate swap valuation service, Interactive Data can help customers more efficiently value portfolios that contain a broad range of financial instruments, including securities and over-the-counter (OTC) derivatives, the firm said in a statement.
Interactive Data’s new service delivers valuations of interest rate swaps based on benchmark curves from ICAP, an interdealer broker, and trade details input by customers.
“By leveraging our experience in bond evaluations, we have developed a new offering that can help customers seamlessly obtain independent valuations of interest rate swaps — a large, well-established market that is still experiencing significant growth,” says Ray D’Arcy, president of sales, marketing and institutional business development at Interactive Data Corporation.