Markit Acquires ABSReports
London and New York, 09 January – Markit Group Limited (“Markit”), the leading industry source of independent data, portfolio valuations and OTC derivative trade processing for the global financial and commodities markets, today announced it has acquired ABSReports, an ABS deal reporting service.
ABSReports is the only electronic reporting service to focus exclusively on the performance of European deals in the Asset-Backed Securities (ABS), Mortgage-Backed Securities (MBS) and Collateralised Debt Obligations (CDO) markets. The platform provides aggregated, detailed information for European ABS deals, allowing users to monitor and analyse the performance of transactions in the public domain while tracking price and collateral throughout the life of a deal.
The service provides access to a rich data set including original and current standardised deal data; original servicer reports; deal documentation; securities pricing; an archive of more than 1,500 European transactions; and access to news and research.
Markit will integrate performance data from ABSReports into its European ABS pricing service with a view to bringing greater efficiency and transparency to the secondary European ABS market. The combination of these services will offer an integrated suite of performance and pricing data, allowing for significant deal and sector analytics.
Markit’s ABS pricing service, which allows clients to track ABS values using independent, consensus pricing drawn from 25 market makers, now provides data for over 4,000 securities which marks a significant milestone since the launch of the service just over a year ago.
Giovanni Pini, Senior ABS Analyst at European Credit Management, said: “The introduction of Markit’s integrated ABS offering will be warmly welcomed since there is a real need for timely, reliable and publicly available information. Markit has played an important role in bringing greater transparency and efficiency to the structured finance and derivatives markets, and their new service is certain to benefit the European securitisation industry.”
Kevin Gould, Executive Vice President and Head of Data Products and Analytics at Markit, commented: “Markit is deeply committed to the structured finance markets, and this acquisition is proof of our determination to provide the ABS community with high quality intelligence. By providing detailed information on the entire spectrum of European securitisation deals through a single gateway, we will enable dealers and investors to track the value and performance of the underlying assets quickly and efficiently.”
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For further information, please contact:
Markit
Teresa Chick
Director, Corporate Communications
Tel: +44 20 7260 2094
Email: teresa.chick@markit.com
About Markit
Markit Group Limited is the leading provider of independent data, portfolio valuations and OTC derivatives trade processing to the global financial and commodities markets. The company receives daily data contributions from over 70 dealing firms, and its services are used by over 600 institutions to enhance trading operations, reduce risk and manage compliance.
Markit’s position in the derivatives markets has been acknowledged by the industry with numerous awards. In 2006, the company won Operations Management’s Vendor of the Year award (Trade Processing); Financial News’ Best Derivatives Data Solution and Best New Vendor Solution (Portfolio Valuations); Credit’s Best Operational Support Services Provider; Inside Market Data’s Reference Data Provider of the Year, and Company to Watch; Risk’s Trading Initiative of the Year (Credit Event Fixings); and Structured Finance International’s Editor’s Award for Advancing Structured Finance. In 2005, Markit received International Securitisation Report’s Editor’s Award for Innovation; International Financing Review’s Innovation of the Year (Credit Event Fixings); Financial News’ Best Derivatives Data Provider; and Operations Management’s Vendor of the Year award. For more information, see www.markit.com