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TP ICAP EU MTF - RATE CARD UPDATE

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TP ICAP (Europe) S.A.,
42 rue Washington
75008,  
Paris, France

14th March 2023 – London

Parameta Solutions, the leading provider of OTC indicative and trade data, and Numerix, the global leading OTC analytics and derivatives pricing company, have today announced a new partnership to develop automated, high quality, independent, fair valuations of OTC derivatives to market participants.

With the ability to use Parameta’s market leading OTC data alongside Numerix’s advanced analytical capabilities, this partnership promises to provide a cost efficient, differentiated offering to a high growth sector. With mounting regulatory requirements linked to accounting standards, and an increasing requirement for greater model transparency and transaction substantiation, data reliability and transparency are more important than ever. The introduction of FRTB has reinforced the need for banks to have access to high quality data in order to accurately mark their OTC positions.

The two firms are working together to develop a solution to provide a more effective way of valuing OTC derivatives. The collaboration follows the Bank for International Settlements recent data showing that the notional value of outstanding OTC derivatives rose to a record high of $632 billion last year.

Commenting on the agreement, Ovie Koloko, Chief Product Officer said: “As the regulatory requirements for third party outsourcing, transparency, and risk factor liquidity have increased, the challenge of obtaining accurate and up-to-date valuation services has become more difficult. Simultaneously, technological changes are forcing financial institutions to reconsider their existing architecture and the data sources driving critical applications. By working together with Numerix, we believe that we can offer a truly unique solution to an issue that has only become more pronounced as financial institutions make greater use of OTC derivatives.”

“Transparency is a key factor in the growth of OTC markets.  It is essential to have transparency in data, models, and their calibration to ensure confidence while trading these products,” emphasized Steven O’Hanlon, the President and Chief Executive Officer of Numerix.  “By combining Parameta’s extensive and diverse data with Numerix’s cutting-edge pricing models and advanced analytics solutions, we can build greater trust in this segment of the capital markets.”

About Parameta Solutions

Parameta Solutions is the Data & Analytics division of TP ICAP Group. The business provides clients with unbiased OTC content and proprietary data, in-depth insights across price discovery, risk management, benchmark and indices, and pre and post-trade analytics. Its post-trade solutions offering helps market participants control their counterparty and regulatory risks through a growing range of tools that manage balance-sheet exposure, as well as compression and optimisation services. TP ICAP Classification: Public The Data & Analytics division includes the following brands: Tullett Prebon Information, PVM Data Services, ICAP Information and Burton-Taylor Consulting.

About Numerix

Numerix (www.numerix.com) is the leading provider of innovative capital markets technology solutions and real-time intelligence applications for trading and risk management. Numerix is dedicated to driving a more open, fintech-oriented, digital financial services market. Built upon a 20+ year analytical foundation of deep practical knowledge, experience and IT understanding, Numerix is uniquely positioned in the financial services ecosystem to help its users reimagine operations, modernize business processes and capture profitability. - See more at: https://www.numerix.com/press-release/numerix-appoints-steve-delorenzo-chief-financial-officer#sthash.qbL1RBzB.dpuf

                                                                                                           ENDS

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TP ICAP

Richard Newman

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Richard.Newman@tpicap.com

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