Investment company ETFS Capital has invested in price verification platform Skylight IPV.
Skylight IPV provides risk managers and product controllers at market-making institutions with independent valuation data for over the counter (OTC) derivatives.
The closing of the funding round enables Skylight IPV to further develop its technology working with its clients and provides stability for the platform.
ETFS Capital formed in 2018 following the sale of ETF Securities’ European and North American issuance business to WisdomTree, Legal & General Investment Management and Aberdeen Standard.
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Graham Tuckwell (pictured), chairman of ETFS Capital, commented: “The market for IPV services needs a company capable of partnering with the investment banks and commodity firms to take the service to the next level.
"We believe Skylight IPV with their deep expertise and partnership approach is that firm.”