Fair-Value Marks
with Hermes Agent.
Drop Fair-Value Marks into Hermes Agent as a single valuation skill. Submit any illiquid position and Hermes returns an independent evaluated price or model-based fair-value mark, the inputs and methodology behind it, and comparable references where they exist — ready for IPV, period-end, or audit use. Per-flow spending limits respected. Charged per mark, no pricing feed required.
Real Hermes flows that rely on this skill.
Each pattern below is a Hermes Agent flow with Fair-Value Marks registered as one skill. The flow only charges when it receives a mark.
Pull an independent mark to verify a front-office or administrator price.
A Hermes valuation control flow picks up each illiquid position flagged for Independent Price Verification (IPV), submits it to the Fair-Value Marks skill, and returns the independent mark alongside the front-office price with a comparison and the methodology behind the independent number — all within a single flow run. Valuation control teams get a documented, independent verification without a manual request to an external pricing desk.
Mark the illiquid tail at month-end or quarter-end close.
A Hermes fund accounting flow runs at period-end, identifies the positions that don't have a liquid market price, submits them to the Fair-Value Marks skill, and writes the returned marks and methodology back to the net asset value (NAV) calculation — all in one flow run. Liquid positions price themselves; the long tail gets handled systematically.
Get a starting mark for any new illiquid position the moment it enters the book.
A Hermes operations flow triggers whenever a new private-credit, structured, or thinly-traded instrument enters the portfolio. It submits the position to the Fair-Value Marks skill and writes the opening mark with its methodology back to the position record — so the instrument enters the book with a defensible starting value, not a placeholder pending a manual valuation pass.
Respond to a challenged mark with an independent valuation and methodology.
A Hermes compliance flow handles mark-dispute requests — from auditors, limited partners (LPs), counterparties, or regulators — by submitting the challenged position for an independent valuation and packaging the returned mark, methodology, and comparable references into a structured response. The flow turns a manual, days-long process into a same-day output.
Defensible marks, inside every Hermes flow.
Add one skill and your Hermes Agent flows can mark any illiquid position on demand. Flows that don't submit a position cost nothing. That's the entire deal.
- Single Hermes skill
- Spending limits honored
Hermes Agent specific questions.
If something below doesn't cover your case, ping us — we work directly with Hermes Agent builders, no sales process.
How does this work inside Hermes Agent?
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Fair-Value Marks is registered as a single skill in your Hermes Agent setup. When a valuation flow needs a mark, it submits the position details and receives back the evaluated price, methodology, inputs, and comparable references. Hermes uses the per-mark price to enforce spending limits for each flow run.
Can a Hermes flow process a batch of illiquid positions in one run?
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Yes. A Hermes flow can step through a list of positions, submit each for a fair-value mark, accumulate the returned valuations and methodologies, and pass the completed set to a downstream step — a NAV calculation, an audit report, a valuation committee pack — all within a single flow run and a single spending limit.
What happens if a Hermes flow reaches its spending limit mid-batch?
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The service returns marks for positions completed so far and stops. Hermes treats this as a normal skill result, so the flow can decide whether to request a higher spending limit, process the marks it has, or continue in a follow-up run.
Does Hermes need a long-term pricing subscription to use this skill?
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No. The skill is charged per mark with no standing subscription. Hermes flows that aren't actively submitting positions cost nothing.
Can a Hermes flow use this for real-time marking, not just period-end batches?
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Yes. For positions that can be priced from available market inputs, marks are returned the same business day. A Hermes flow triggered by a new-position event, an IPV flag, or a dispute notification can request a mark and receive it without manual intermediation.
How is this different from connecting Hermes to a full pricing feed?
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A full feed subscription charges for access to a broad price universe, whether your flows use most of it or not. This skill charges only for the marks your flows actually request. For valuation control, period-end, and audit workflows where the volume is irregular and the value per mark is high, per-mark pricing is almost always cheaper and more predictable.