Reech Capital PLC has signed a deal with SNS Bank, the banking arm of the Dutch banc assurance SNS Reaal Group, to be its exclusive provider of regular mark-to-market valuation of the derivatives it enters into as hedges for exotic MTN issues.
Reech Capital will provide independent valuations to SNS Bank using FastVal+, its online portfolio valuation engine that allows derivatives players 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. SNS chose Reech Capital because it is can provide a cost effective solution and an all-encompassing service for even the most exotic types of transactions.
Christophe Reech, chief executive of Reech Capital, said: “SNS Reaal is an important client for us and our first in the Netherlands, which is a mature and sophisticated financial market, and one that we are firmly committed to supporting.”