"GlobeOp selected Suiteâs new credit derivatives offering based on the acceptance it has achieved among our practitioner clients, as well as our long-standing success with Suiteâs fixed income product," said Jerome Barraquand, Managing Director of GlobeOp Risk Services. "We know credit traders rely on Suiteâs models for pricing both on their desktops and through e-trading platforms. It makes sense that we conform our ongoing valuation and risk reporting using the same analytics. We are also impressed with Suiteâs commitment to ongoing product improvement and quality and look forward to working with them as they continue to enhance the functionality of the library to help meet the needs of our growing client base."
Lee Olesky, president of TradeWeb, noted, "We are happy to be teamed with Suite LLC for our CDS valuations, and their new partnership with Globe-Op makes it clear that Suite is establishing a position as a market-accepted provider."
"GlobeOp and TradeWeb are two great examples of companies taking full advantage of the transparency ALib offers and our commitment to working with clients to develop the tools they need," said Ed Chester, a Suite founding partner. "We are proud to expand our relationship with GlobeOp as the global acceptance of Suiteâs products continues to grow.
ALibâs multi-name credit functionality is a semi-analytic method devised by Suite LLC partner Dr. Gene Schupak.