Interactive Data Corporation (NYSE: IDC), a leading provider of financial market data, analytics and related services, today announced that its Pricing and Reference Data business has begun providing daily evaluations for Government National Mortgage Association (GNMA) Serial Notes backed by 100% Puerto Rico collateral. By delivering evaluations for a broad range of securities, Interactive Data can help clients reduce the time, cost and effort associated with their valuation processes.
Determining evaluations for Serial Notes with Puerto Rico collateral had traditionally been challenging for financial institutions, as well as pricing vendors. By leveraging its experience in producing evaluations for millions of global fixed income instruments every day, Interactive Data has created an evaluation methodology designed specifically for these securities.
Interactive Data will initially provide evaluations for nearly 37,000 Serial Notes backed by 100% Puerto Rico collateral, and plans to continue to expand its coverage. This information, which is of particular interest to brokerage firms and financial institutions conducting business in Puerto Rico, will be conveniently available to clients through Interactive Data’s existing evaluation services.
“Interactive Data is committed to working closely with our clients to understand their data needs, and we will continue to assess our evaluated services offerings and look for areas in which we can not only expand coverage, but also help clients meet future market requirements,” said Shant Harootunian, managing director of evaluated services, Interactive Data Pricing and Reference Data. “We are pleased to offer this new source of independent evaluations for Puerto Rico GNMA Serial Notes, especially in light of new accounting developments such as FAS 157.”