Parameta Solutions Teams up with Numerix for OTC Derivatives Valuing

Parameta Solutions, the Data & Analytics division of TP ICAP, announced that it has entered into a partnership with over-the-counter (OTC) analytics and derivatives pricing firm Numerix, and the two firms will work together to develop a more efficient OTC derivatives valuation system.

Through this partnership, Parameta Solutions will further enhance its OTC data delivering and consolidate its position in this field with Numerix's advanced analytics capabilities.

Ovie Koloko, Chief Product Officer, Parameta Solutions, 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."

Steven O'Hanlon, Numerix's President and CEO, said: "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. By combining Parameta's extensive and diverse data with Numerix's pricing models and analytics solutions, we can build greater trust in this segment of the capital markets."

Parameta Solutions has been continuously improving its tech services to meet the needs of clients brought about by the changing market. Last August, the firm partnered with PeerNova​ to launch a new enhanced consensus pricing solution, bringing a new approach to risk and regulatory capital management and directly addressing some of the growing pressures faced by clients with regards to transparency and governance.