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CMA adds CDS data on key sovereign debts to its free-of-charge daily Marketflash

email this aricle - CMA adds CDS data on key sovereign debts to its free-of-charge daily Marketflash  - 9 August 2011 print this article - CMA adds CDS data on key sovereign debts to its free-of-charge daily Marketflash  - 9 August 2011
CMA Marketflash helps subscribers keep up-to-date with changes in sovereign credit risk quality.

CMA, the leading source of reliable, independent OTC market data, today announced that for the rest of August it is publishing additional credit default swap (CDS) information on key sovereign debts to CMA Marketflash, its daily email sent free of charge to subscribers. This will help keep subscribers informed of changes in the quality of sovereign credit risk in the midst of increasing uncertainty following the rating downgrade of the United States credit rating and the continued volatility in European sovereign debt risk.

Information published in CMA’s Daily Marketflash includes the five year tenor CDS levels, the cumulative probabilities of default (CPD), which is the CDS market-implied probability of a country being unable to honour its debt obligations over five years and the CMA CDS market implied rating, which compares the CDS market’s assessment of credit quality with those of rating agencies.

Antoine Kohler, CMA’s Chief Executive said: “We are committed to helping our clients and market participants. The CDS market is an efficient measure of credit risk and an important consideration particularly at times of great market volatility. Our data is uniquely set up to provide this type of independent same day reporting because of our real-time access to CDS prices from the largest and most active credit investors. Our data and metrics are based on the real price indications observed in the OTC credit markets. CMA processes over one million data points a day and adds analytics such as CDS implied ratings to provide transparency for market participants.”

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