LOMBARD RISK LAUNCHES VALUSPREAD® CREDIT DATA FOR BENCHMARKING CREDIT CURVES

July 29th, 2002 – Lombard Risk Systems, provider of ValuSpread Credit, the market leading service for independent price verification of credit default swaps, today announces the launch of ValuSpread Credit Data.

ValuSpread Credit Data is a unique, web based service which provides players in the credit derivatives market with high quality credit prices and recovery rates. This can be used to build and benchmark credit curves alongside those of the biggest market participants.

The service is invaluable to numerous finance professionals, specifically product controllers, risk and portfolio managers, loan officers and research analysts. Data is available for over 1,000 named liquid and semi-liquid credits, on a current and historic basis.

Penny Davenport, Managing Director of Valuation Services believes "ValuSpread Credit Data is superior to any other offering currently available in that the data providers are selected leading credit derivatives market makers. The data is collated via Lombard Risk’s well established ValuSpread Credit service and is made available to clients on a consensus basis. This anonymous data provision from the key market makers ensures timely, quality, unbiased data with better price transparency than might be obtained from a single bank."

ValuSpread Credit Data is used to develop analytics and has been built for seamless integration with other applications, notably Lombard Risk’s FirmamentÒ Credit Trading system. At the push of a button, the unique ValuSpread Credit Data service combines perfectly with its world class analytics to provide a powerful credit trading and risk management tool.

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