On Monday, Markit, an industry source of independent data, portfolio valuations and OTC derivative trade processing, launched an integrated pricing and performance monitoring service for the European asset-backed securities (ABS) market.
The integrated service offers market participants a view of European ABS securities and collateral performance information alongside daily independent bond pricing sourced from 27 market makers.
Clients will gain access to closing prices, spreads and average lives for over 5,100 European ABS securities; bond and collateral performance data on more than 1,800 European ABS deals; and 17,000 collateral reports. This dataset allows investors to track pool and loan performance including prepayments, defaults, delinquencies and changes in credit quality.
"Markit is now able to offer financial institutions the ability to track the value and performance of their European ABS assets on a single platform. We expect the service will prove to be a valuable monitoring tool for dealers and investors, and will bring transparency and efficiency to the European ABS marketplace by combining price and collateral information on a single screen," says Kevin Gould, executive vice president and head of data products and analytics, Markit.
The new platform builds on Markit's existing ABS pricing service and ABSReports, the deal reporting service that the company acquired in January this year. Transactions covered include ABS, residential mortgage-backed securities (RMBS), commercial mortgage-backed securities (CMBS) and collateralised debt obligations (CDO).