OTCs See Increase in Independent Pricing
According to new research, it is indicated that independent valuation for over-the-counter derivatives is becoming more important for UK and US asset managers.
A study by Navigant Consulting said that 74% of respondents reported using more than one external vendor to providing pricing for OTC derivatives, up from 52% last year. Nearly a third of respondents were using four or more sources, a rise from 10% in 2008.
These results demonstrate a wider trend of reduced reliance on counter-party, manager or spreadsheet pricing as a source for valuing OTC derivatives, along with the increased incidence of outsourcing this function. The survey also noted an increased appetite for outsourcing fund accounting, reconciliations and performance measurement, and a decreased appetite for outsourcing.
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