IHS Markit has acquired a software and analytics provider for over-the-counter (OTC) derivatives valuation to build out its existing derivatives data business. DeriveXperts specialises in daily and monthly calculations of assets traditionally seen as difficult to value, including equity derivatives, FX derivatives, interest rate derivatives and structured notes.
The company is based in Paris and was founded in 2003. The acquisition will bolster IHS Markit’s client base in the French capital with banks, investment managers, insurance companies and private banks.
“IHS Markit strives to be the best source of independent valuations of OTC derivatives and other complex financial assets and this expansion shows our commitment to providing customers with exceptional coverage and quality,” said Gianluca Biagini, managing director for derivatives data and valuation services at IHS Markit.
“DeriveXperts brings us a skilled team and a high-quality service that extends our offering for derivatives, particularly in equity-linked products, an area that we see growing across all of our customer segments.”
IHS Markit currently offers pricing and valuation services including independent mark-to market valuations and risk analytics for vanilla and exotic OTC derivatives, fixed income cash products, private equity and illiquid debt instruments.
“Together, we will continue to deliver unparalleled expertise and best-in-class capabilities that move with the speed of evolving global markets,” Francis Cornut, founder and CEO of DeriveXperts, concluded.