Company's Fair Value Information Service Helps Clients Meet Their Regulatory Requirements and Fiduciary Responsibilities
Interactive Data Corporation, a leading provider of independent evaluated pricing and reference data services, today announced the expansion of its NY Close International Fixed Income Evaluation Services to now include coverage of sovereign and corporate bonds issued in the Asia‐Pacific region.
The service is powered by the Company’s Fair Value Information Services, which is designed to reflect the impact of new market information from the time of local market close up until New York market close, using Interactive Data’s patented approach to fair value pricing. Over the past year and a half, Interactive Data has continued to develop new products and applications based on its Fair Value Information Services, including the rollout of NY Close European, Middle‐Eastern, and African (EMEA) fixed income evaluations, as well as generating fair value adjusted inputs for use in U.S. fixed income evaluations on days when SIFMA has recommended a fixed income market close (i.e., Columbus Day and Veterans Day), but the U.S. equity markets are open until 16:00 ET.
Interactive Data’s Fair Value Information Services provide investment companies and other clients with pricing information that incorporates market‐driven changes affecting global financial instruments that are no longer active in a liquid market at the time of net asset value (NAV) calculations.
“The addition of Asia‐Pacific fixed income securities is a direct response to client needs,” said Rob Haddad, senior director, Evaluated Services for Interactive Data. “The fixed income markets are far from static, and our ability to help our clients meet their regulatory requirements and fiduciary responsibilities, by providing key inputs to value their global multi-asset portfolios specifically at the 16:00 ET New York market close, is a tremendous value add.”
For more than eleven years, Interactive Data has provided Fair Value Information Services to mutual funds and market participants. In 2012, Interactive Data was awarded its third patent by the U.S. Patent and Trademark Office for Fair‐Value Pricing of a Financial Asset, which includes fair value pricing for bonds, options, futures based on equity indices, and real‐time fair value pricing for global equity ETFs.