BoNY Stock Clients to Get Options Tool

September 28, 2005 ( - Bank of New York (BoNY) stock plan services clients will now have access to a new online program to help determine the fair value of company stock issued to employees.

A BoNY news release said that Option Navigator, developed by the Scottsdale, Arizona-based Equity Methods, will help clients follow new requirements to carry stock options as expenses on their financial statement.

Option Navigator allows clients to generate option valuations that are Financial Accounting Standards Board (FASB) compliant, as well as auditor reports that detail valuation assumptions and expense calculations, the announcement said.

Clients can compare option values and related expenses using a variety of techniques, including lattice methods and the Black-Scholes Merton formula. In addition, Option Navigator will integrate with the Bank’s equity administration system to upload grant, exercise and cancellation data, the announcement said.