SAN JOSE, Calif., Aug. 10, 2022 /PRNewswire/ — Parameta Solutions, the Data & Analytics division of TP ICAP Group, and PeerNova® announced the launch of ClearConsensus™, a transparent high-fidelity consensus network for Independent Price Valuation (IPV). The service improves both business resilience and regulatory response by addressing the evolving risk environments for price valuation and control groups at banks globally.
"We are excited to announce our partnership with PeerNova," said Eric Sinclair, CEO of Parameta Solutions. "By leveraging PeerNova’s technology, an agile data management and analytics platform, we can provide clients with deeper insights and a streamlined challenge process for more efficient and timely consensus. It is a great marriage between PeerNova’s technology and Parameta Solutions’ observable transactions data."
ClearConsensus combines Parameta Solutions’ Evaluated Price (EvP) with PeerNova’s Cuneiform® modern technology platform. In a first of its kind, ClearConsensus is directly introducing observable transactions data via the EvP, significantly improving the fair value waterfall process. The solution provides visibility and transparency, while maintaining participant anonymity and data privacy. Through stringent data quality checks and an automated challenge process that incorporates additional participant data, the final consensus price is enriched, accurate, and timely. Comparative, real-time analytics help identify market trends so clients can better optimize capital allocation, mitigate risk, and reduce cost of ownership.
"We are very pleased to partner with Parameta Solutions and launch ClearConsensus," said Gangesh Ganesan, Founder and CEO of PeerNova. "As a leading provider of unique OTC content, with a global footprint in the derivatives market, Parameta Solutions will bring significant expertise when it comes to meeting regulatory requirements and enriching client data. Coupled with PeerNova’s data and analytics capabilities, our solution is uniquely positioned to improve the overall consensus process, helping clients better plan for the future."
About Parameta Solutions:
Parameta Solutions is the Data & Analytics division of TP ICAP Group. The business provides clients with unbiased OTC content and proprietary data, in-depth insights across price discovery, risk management, benchmark and indices, and pre and post-trade analytics. Its post-trade solutions offering helps market participants control their counterparty and regulatory risks through a growing range of tools that manage balance-sheet exposure, as well as compression and optimisation services.
PeerNova’s mission is to empower firms to make confident and timely decisions using high-quality data. PeerNova’s platforms enable users to monitor data quality metrics, identify and resolve high-impact exceptions and outliers, and perform faster root-cause analysis across the enterprise and network landscapes in real-time.
In partnership with Parameta Solutions, the ClearConsensus™ solution establishes a mid-market high-transparency consensus view of derivative prices in the OTC markets. This enables market participants to optimize for risk capital allocation. PeerNova’s Cuneiform® Platform provides reconciliation, data quality monitoring, and client onboarding that reduces manual processes and improves operational efficiency across complex workflows.
Founded in 2013 by entrepreneurs with deep expertise in data and financial infrastructure, PeerNova is a Silicon Valley technology company with sales offices in New York and London. For more information about PeerNova, please visit https://peernova.com.