Le Chicago Board Options Exchange a publié un communiqué de presse dans lequel il annonce l'ouverture du service Customized Option Pricing Service (COPS).
COPS est un service proposé par sa filiale Market Data Express qui prévoit de le lancer le lundi 14 janvier 2013.
Ce nouveau service de données, qui emploie l'expertise du marché de décision du CBOE,
propose à ses abonnés dès la fin de journée des évaluations indicatives pour "personnaliser" des options telles que les FLexible EXchange (FLEX) options et certains OTC options.
Chicago Board Options Exchange, Incorporated (CBOE) announced today that its affiliate Market Data Express, LLC (MDX) plans to launch the CBOE Customized Option Pricing Service (COPS) on Monday, January 14. The new data service, which employs the market-making expertise of CBOE's liquidity-providing community, offers subscribers end-of-day indicative valuations for "customized" options such as FLexible EXchange (FLEX) options and certain over-the-counter (OTC) options.
COPS was designed in response to requests from institutional investors - including mutual fund and hedge fund administrators and risk managers for insurance companies and custodial banks -- that need to accurately price the value of custom options held in their portfolios on a daily basis. Many of these institutions are required by the U.S. Securities and Exchange Commission (SEC) to produce daily funds reports for their customers -- measuring Net Asset Value (NAV) of funds held in their portfolios -- by 4 p.m. Central time. COPS may help institutional investors more efficiently manage this reporting process.
COPS differs from other valuation services, which typically price options only by request, each using a single pricing model. By contrast, COPS, for the first time, will rely on robust pricing models of multiple CBOE market makers to help generate indicative values for as many as 3,000 options series on 300 underlying options classes each day. MDX will average the valuations submitted by market makers to MDX after the market close and provide COPS subscribers with custom data based on those averages each day.
"We are pleased to introduce our new options valuation service, which is unlike any other," CBOE President and COO Edward Tilly said. "CBOE's market makers continuously quote hundreds of thousands of standard options series each day. COPS is unique in that it applies this quoting expertise in standard options to customized options. The result is options values representing the collective pricing opinions of multiple, professional market makers."
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