For nearly two decades now, we have been providing clients with valuation of derivatives for their accounts reporting. This is an important element of finance and it is critical that the valuation consultant be independent of the counterparty to the transaction.

This business really came into its own during the derivatives mis-selling crisis that began before 2008, when several companies ended up coming to grief when derivatives that banks sold as hedges were actually trading positions, which went dramatically out of the money when the Swiss franc and the Japanese yen strengthened much more than had been expected. At that time, we provided not just valuations of some extremely complex derivatives, but also regulatory and legal opinions that some clients used to recover payments from banks.