Media
Xchanging automates the valuation of financial instruments
26 Jun 2008
Frankfurt/London, 26 June 2008
Xchanging Transaction Bank has significantly expanded its Central Price Service (CPS). With the successful implementation of the new software product “CPS Pricing Tool“, the Frankfurt-based financial services provider has automated the existing valuation process. “Our philosophy is to invest in processes and services in order to improve and develop them continuously”, Mike Margetts, Executive Director of Xchanging Financial Markets, comments.
With its Central Price Services, Xchanging Transaction Bank provides institutional investors such as investment companies and custodian banks with validated prices for a variety of financial instruments, whether they are publicly listed on an exchange or structured and mostly traded over the counter (OTC) such as bonds, warrants and swaps. The Central Price Service includes two products: Standard Pricing and Financial Engineering. The “CPS Pricing Tool” allows for an automatic feed-in of pricing data by third-party suppliers such as Reuters and Wertpapiermitteilungen pursuant to user-defined criteria. As a result, Xchanging, the processing specialist, can now process a much higher volume of data. The new tool automatically checks the data within specified tolerances, clears up and standardises the data structures of the different suppliers.
Lufthansa Systems is general contractor and application service provider
The "CPS Pricing Tool" is based on software called GAIN "Finance Data Management Technology (FDMT)" by AIM Software GmbH. Lufthansa Systems is the application service provider and acts as the general contractor for the implementation project.
Xchanging Transaction Bank has more than ten years experience in the valuation of financial instruments. In Financial Engineering, which comprises the valuation of OTC market instruments, the Central Price Services team valuates some 1,000 structured products a day.
Xchanging’s customers in the financial markets sector include international companies such as Allianz Global Investors Kapitalanlagegesellschaft mbH, Deutsche Bank, Citibank Privatkunden AG & Co. KGaA, Sal. Oppenheim, Sparda Banks as well as Hauck und Aufhäuser Investment Gesellschaft, Helaba Invest, BHF-Bank and NetBank AG.
About Xchanging
Xchanging is a fast-growing international, pure play business process outsourcing (BPO) company with blue-chip customers. Xchanging provides complex industry specific processing to the banking and insurance industries and procurement, finance and accounting, and human resources services to customers across industries.
Kontakt für PresserückfragenB
Xchanging
Claudia Behr
Manager Public Relations
Wilhelm-Fay-Str. 31-37
65936 Frankfurt
Telefon: +49 / (0)69 - 12012 60137
Fax: +49 / (0)69 - 12012 60060
E-Mail: claudia.behr@xchanging.com