CMA Announces Preparations for CDS "Big Bang"

25 March 2009

CMA, the credit information specialist, today announced that it has implemented the necessary updates and upgrades to its QuoteVision, DataVision and Analytics product sets to support the new standardised 100/500 CDS contracts for North American single name CDS, which are scheduled to launch on 8th April this year.

Jav Bose, Head of Product Development at CMA said that "The upcoming changes to quoting conventions for single name CDS are required for smooth settlement and position netting in the CDS market. The adaptations we have made will make it easier for clients to manage the new conventions and pricing conversions and minimise the time from price discovery to taking trading and risk management decisions."

CMA encourages market participants who have questions regarding the new quoting conventions, price conversions or product upgrades, to contact CMA in London or New York for more information.

DataVision is a high quality same day, consensus based price verification data service for CDS, indices and tranches, used primarily for mark-to-market, flash P&L, research and analytics.
It is sourced from 30 buy-side firms including leading hedge funds, asset managers and the buy-side desks of global investment banks. DataVision is available to more than 260,000 users around the world via the Bloomberg Professional® service.

QuoteVision, the market leading real time OTC credit market price discovery service, scans free form messages, extracts pricing information, and stores it in a client side database. QuoteVision covers a broad range of asset classes; quotes are matched to industry standard ISIN codes, so traders can be sure that prices are correctly identified. QuoteVision's proprietary artificial intelligence based parsing service combined with CMA's data editorial team ensures that QuoteVision continuously recognises new securities, tickers, entities and name changes resulting from corporate actions.

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