Deloitte is a leading auditor and professional services provider to the 1 trillion Euro Irish funds industry centered around the International Financial Services Centre (IFSC) in Dublin. It uses the SuperDerivatives revaluation service for external independent verification of the portfolios of its audit clients. Deloitte decided to standardize its options auditing activities on SuperDerivatives across all derivatives in order to provide top quality service to its clients and assure strict compliance with global accounting and auditing standards that demand fair value valuation of derivative instruments, standards such as IAS 39, FAS 133, FAS 157,UCITS III and the upcoming pan European MiFID regulation.
âAccuracy, reliability and consistency are the qualities that make the SuperDerivatives revaluation service stand apart when considering a solution for option valuation. Following recent losses of funds that lacked proven valuation processes, the accurate and consistent valuation of OTC options is currently the top concern of our clients. Therefore, we have rigorously benchmarked and tested various revaluation possibilities and have found SuperDerivatives to be in a league of its own, as it is the only service that accurately reflects the actual trading prices in the OTC market,â said Ronan Nolan, Partner, Audit Services with Deloitte
âThe serviceâs width and depth of coverage in the number and variety of exotic options as well as in the markets and currencies covered is unparalleled and extremely impressive. It allows us to effortlessly support the increasingly sophisticated portfolios of our clients. The inclusion of vast historical and validated market data and the automated connectivity and processing saves us significant amount of manual work and time, and dramatically raises the quality of our audit work,â concluded Nolan.
Dani Weigert, Head of the SuperDerivatives Revaluation Center comments: âDeloitte and Touche joins a long list of first class institutions that use the SuperDerivatives revaluation service. We are proud to partner with Deloitte in providing investors and regulators with the assurance and peace of mind they deserve. Our work with Deloitte highlights the SuperDerivatives dominance in the area of portfolio revaluation services within all global investment administration centers such as Dublin, Luxemburg and Cayman Islands. The use of our services by leading auditors such as Deloitte is yet another stamp of approval attesting to the extreme accuracy and reliability of the valuations we provideâ
Weigert adds: âThere are no shortcuts in providing accurate prices for complex derivatives. In order to provide such prices, one must have a scientifically sound and market proven pricing model. The SuperDerivatives revaluation service is powered by the only publicly visible and market tested option pricing model which is constantly used by traders for generating real-time execution prices. The model, in addition to the SuperDerivatives global network of independent rate providers allows us to provide the only market accurate revaluation service for derivative portfolios. Recent occurrences in the hedge fund world have clearly demonstrated that anybody counting on any other method of valuation, does it at his own perilâ .
SuperDerivativesâ products, including real-time pricing and analytics systems, risk management systems, portfolio revaluation services, options market data portal and online trading capabilities, are used by numerous companies from both the buy and sell side. Its pricing platforms are used by almost all the banks around the world that are active in options, as well as by numerous corporations, asset managers, hedge funds, auditors and central banks.
SuperDerivativesâ benchmark option pricing model is the only publicly visible and market tested model whose accuracy in generating real market prices for all types of derivatives has been proven and validated continuously for several years.