Reech Capital says it has been selected by Irish Life Investment Managers (ILIM) to supply independent valuations of derivative products.
Reech Capital will provide independent valuations to ILIM using FastVal+, an online portfolio valuation engine that allows derivatives users to calculate the fair value and hedging ratios of portfolios containing cash products, derivatives or securities financing products. FastVal+ covers the equity derivatives, fixed income derivatives, forex derivatives and credit derivatives markets. ILIM’s parent company, Irish Life and Permanent PLC, will also use FastVal+ to provide mark-to-market valuations of their treasury products.
“We found FastVal+ to be the only solution that could value the full range and manage the complexity of the different types of product we use,” says Paul Sharkey, Senior Fund Administrator at ILIM. “We also wanted a solution that was fast and simple to integrate and so an ASP was ideal.”
Christophe Reech, chief executive of Reech Capital, added: “Irish Life’s decision to use FastVal+ is indicative of the desire of the best corporates to be at the forefront of regulatory and corporate governance best practice. FastVal+ is flexible enough to support the requirements of both the investment management and corporate treasury functions.”