Standard & Poor’s, a provider of independent research, ratings, indices and reference data solutions, has announced that it provides independent daily valuations for over 1.1 million structured finance securities.
Coverage of European asset-backed securities (ABS) and mortgage - backed securities (MBS) has grown to over 3,500 securities. SPSE's methodology combines cashflow analysis and modeling with market information.
SPSE has also increased its coverage of US CDOs, pricing over 2,200 securities daily. Other areas for growth are US sub-prime issues, where SPSE values over 20,000, as well as UK and European non - conforming deals.
In addition to the 1.1 million global structured finance securities, SPSE offers valuations for other asset classes including high yield, syndicated loans, swaps/swaptions, corporates, governments and US municipals. Five intra-day pricing snapshots for European corporates are also available. All inclusive SPSE prices over 2.9 million instruments.
Peter Jones, director of securities evaluations for Europe, comments, "During the first half of 2007, trade bodies and regulators have placed increased scrutiny on how firms, and in particular hedge funds, are valuing the assets they hold. As such, it is more important than ever that institutions can demonstrate that the OTC and more illiquid securities they employ are being valued in a transparent and frequent manner."
S&P's valuations are available through SPSE MasterFeed, a data feed which also includes OTC content from other third-party pricing providers, including Complex Security Valuations and ICAP. S&P distributes its valuations through third-party distributors, including Thomson ISS, Independent Valuation & Risk Services and Principia.