S&P expands its valuation services for complex structures

Speaking at a press event held yesterday in New York, JR Rieger, a vice-president in S&P’s global pricing services group, said there had been a tremendous increase in demand from its clients, mutual funds and hedge funds for independent pricing.

“By partnering with CSV, we’re broadening our capabilities, meeting the needs of clients who have much higher volumes, as well as expanding our global reach,” he said, adding that requests for valuations of difficult to price structures have increased two-fold in the last year.

For CSV, the benefits of the alliance can be summed up in one word – “simplicity”, said Perry Beaumont, CSV’s global head of marketing. The programme – which will give users the ability to choose between an S&P and CSV valuation – will provide a single valuation format, a single accounting method, a consistent set of values, and a single mode of deliverability.

Beaumont stated that the need has been driven by changing regulatory requirements, risk management concerns, and the desire for robust pricing data. About five institutions – predominantly mutual funds, but also funds of hedge funds – have beta tested the programme for the past six months.

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