Blanch asparagus in boiling salted water for 3 minutes.Immediately drain and plunge into bowl of ice water. Let sit 10 minutes, remove and dry on paper towels. Wrap a basil leaf around each asparagus spear. Wrap prosciutto slice around bottom two-thirds of each asparagus spear. Arrange on serving platter. Garnish with Parmesan shavings and fresh ground black pepper. Drizzle with balsamic vinegar and olive oil.