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.”