Daiwa signs up to use Reech Capital's valuation services

Dublin-based fund administrator, Daiwa Securities Trust and Banking (Europe), has signed a deal with Reech Capital, the London-based risk management technology company, to provide it with regular mark-to-market valuations of the over-the-counter (OTC) equity derivatives elements in client portfolios.

Daiwa is the third fund administrator to sign with Reech for independent valuations in Dublin in the last three months. Reech said there is growing demand from fund administrators for independent valuations of OTC products, partly driven by regulators and fund managers pressing for such valuations.

Reech Capital will provide the valuations through its online portfolio valuation engine, FastVal, which allows users to calculate the fair value and hedging ratios of portfolios containing cash products, derivatives and securities financing products.

FastVal covers the equity, fixed income, forex and credit derivatives markets. It uses Reech Capital's pricing and risk management models as well as Reech's independent market parameters database to provide an outsourced valuation solution for portfolios of all sizes.

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