On-Demand Fair-Value Marks.
Get an independent price or fair-value mark for illiquid positions and holdings that don't trade — on demand, with the methodology behind it — no full pricing feed to license. Submit a single position and receive a decision-ready valuation: an evaluated price or model-based fair-value mark, the inputs and methodology behind it, comparable references where they exist, and the date the mark is valid for. One position in, a defensible mark out. Charged per mark.
Built for valuation teams that need a defensible mark, not a pipeline.
Four situations where an independent, on-demand mark is the right answer — and where a full pricing feed subscription would be a poor fit for the volume and frequency involved.
Pull an independent mark to verify or challenge a front-office price.
The anchor case. Independent Price Verification (IPV) requires a second, independent source for illiquid positions — one that didn't originate from the same model or desk being checked. Submit the position and receive an independent evaluated price with the methodology behind it, ready to compare against the front-office or administrator mark. High stakes, episodic, single instrument — the textbook case for per-mark pricing over a standing feed.
Mark the hard-to-price names at period-end.
Liquid positions price themselves at month-end or quarter-end close. The long tail — private credit, structured notes, thinly-traded bonds — doesn't. Submit the positions that need a defensible source at close and receive marked valuations with methodology, without maintaining a full pricing feed for names you price once a month.
Get a starting mark for a new illiquid position before it enters the book.
When a private-credit loan, a structured instrument, or a thinly-traded security enters the portfolio with no clean price source, get a model-based fair-value mark on the spot with the inputs and methodology behind it — so the position enters the book with a defensible opening value rather than a placeholder.
Back a challenged mark with an independent valuation and its methodology.
When a mark is questioned — by an auditor, a limited partner (LP), a counterparty, or a regulator — pull an independent valuation with its full methodology to support the number. The methodology and comparable references returned with every mark give the response substance, not just a different number.
One position in, a defensible mark out.
Your first mark comes back same business day. No feed contract, no minimum spend — you only pay for the positions you actually submit.
- Charged per mark
- Methodology included
The honest answers.
If something below doesn't cover your case, ping us — we answer directly, no sales process.
What does 'charged per mark' mean?
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You pay once per position that returns a valuation. If a position can't be priced — because the instrument is outside coverage or insufficient information was provided — there is no charge. No monthly minimum, no subscription fee, no charge for months where you submit nothing.
What's included with every mark?
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Evaluated price or fair-value mark: the mid-price or point estimate, expressed in the appropriate unit (price, spread, or yield depending on instrument type). Methodology: the valuation approach used — matrix pricing, discounted cash flow, comparable-instrument reference, or model-based. Inputs: the key pricing inputs used — reference rates, credit spreads, comparable transaction data. Comparables: reference instruments or transactions used in the valuation, where they exist. As-of date: the date and time the mark is valid for.
What instrument types are covered?
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Private credit and direct lending (senior secured loans, unitranche, mezzanine). Structured products (CLOs, CDOs, structured notes, asset-backed securities). OTC derivatives (interest rate swaps, credit default swaps, exotic options). Thinly-traded bonds (high-yield, distressed, emerging-market corporates with limited secondary market activity). Listed positions with stale or missing prices.
How is this different from a full evaluated-pricing feed?
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A full feed from services like Bloomberg BVAL, ICE Data Services, or Refinitiv Evaluated Pricing delivers prices for large instrument universes on a recurring schedule, priced accordingly. This service returns a mark for the single position you submit, charged per mark. For IPV, period-end close on a tail of illiquid positions, and episodic valuation needs, the per-mark model is almost always cheaper and carries no minimum commitment.
Is this suitable for independent price verification (IPV)?
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Yes. The service is designed to provide an independent mark that did not originate from the same model or data source as the price being verified. The methodology and inputs returned with every mark allow the verification to be documented and explained, not just asserted.
Can this be used to support an audit or regulatory inquiry?
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Yes. The mark, methodology, inputs, and comparable references returned with every valuation are designed to be documentable and explainable to an auditor, regulator, or counterparty. Whether the mark supports or challenges the figure being reviewed, the methodology gives the response substance.
What if I need marks for a batch of positions at period-end?
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You can submit positions individually or as a group. Period-end batches are common — the charge is per mark returned regardless of whether you submit one position or fifty.