LONDON February 02, 2004 â Moneyline Telerate, a leading provider of financial information and transaction services, and Compagnie FinanciÃ¨re Tradition (Tradition), a leading derivatives broker and one of the pioneers of the Credit Derivatives market, today announced the global release of the Tradition Credit Derivatives Service.
"The addition of Tradition credit default swaps is another example of Moneyline Telerateâs commitment toward expanding its content to best serve the evolving markets. The fixed income market has become more sophisticated and participants are seeking more complex instruments to capitalize on the ever-changing marketplace. High quality credit derivative data is an important product to our clients and fits with Moneyline Telerateâs continued mission of providing only the most compliant and comprehensive financial information services in the industry," commented Louise Lomax, Director Moneyline Telerate EMEA.
Covering European, Asian, Japanese, American and Latam Sovereign, Bank and Corporate debt, the data is available free-of-charge to Moneyline Telerate clients. Credit default swaps are updated twice daily. Prices, quoted directly from brokers, are contributed from Asia, Europe and the USA and provide a valuable insight into market activity over the trading day.
Credit Derivatives are the fastest growing segment of the OTC Derivatives market. According to ISDA figures, during the June 2001 - June 2003 period, outstanding volume in Credit Derivatives increased fourfold and reached $2.69 trillion. The increasing diversification of market players and normalization of the regulatory framework are contributing to the rapid growth of the Credit Derivatives market.
Robin Houldsworth, Managing Director, Tradition UK said: "For the first time, Traditionâs valuable Credit Derivatives data will be available worldwide to all customers via Moneyline Telerate products. In addition to its extensive regional and sector coverage, Traditionâs Credit Derivatives data include highly sought data such as CDs Trac-x, iBoxx indices as well as correlation prices (Tranched indices, first to default). As the credit derivatives market is actively expanding into new market segments, our data will follow this evolution. We look forward to working with Moneyline Telerate to develop new cutting edge products in the credit derivatives data area."
For access to the Tradition Credit Derivatives service see Moneyline Telerate page 9600.