Interactive Data Corporation, a leading provider of financial market data, analytics and related solutions, today announced that it has been named âBest Third-Party Valuation Providerâ in the Credit Awards Americas 2010.
Organized by Credit magazine, these awards recognize leading developments in technology and service offerings for the global credit markets during the past year, particularly in response to the challenges in analytics, risk management, pricing and valuation. Award recipients were selected by Creditâs editorial team, along with editors from its sister publications covering financial markets, and on the basis of endorsements from industry users.
Interactive Data is a leading provider of independent evaluated pricing services, delivering daily evaluations for more than 2.8 million fixed income and international equity issues. The Companyâs evaluations coverage spans a broad range of instruments and represents approximately 100 countries and 30 different currencies. Over 5,000 financial institutions worldwide, from central banks to large investment banks, subscribe to Interactive Dataâs evaluated prices to support pricing activities, research and portfolio management.
In 2010, Interactive Data expanded its evaluated pricing offerings for fixed income instruments and added evaluations for over 300,000 new securities across structured and pass-throughs, corporates, municipals and international instruments. The Company also broadened its OTC Derivatives Services and added coverage for evaluations of fixed-rate reverse mortgage-backed securities (HMBS). Interactive Data also increased coverage for its Fair Value Information Service, which provides information that can be used to estimate the value of international equity securities after the close of trading in local markets.
Interactive Data launched new initiatives in 2010 to provide clients with increased transparency into its evaluations process, along with additional insight related to the asset classes for which it produces evaluated prices. A new evaluated pricing challenge portal is designed to help clients address the industry-wide increase in challenges caused by the dislocation of the credit markets. Clients can submit evaluation challenges online, monitor the status of challenges, create reports, and access new tools and utilities. The Company also introduced new transparency informational resources, including a mid-day and monthly market commentary, to communicate evaluatorsâ independent observations of the credit markets, including indications of liquidity.
âThe heightened focus on valuation by clients and regulators in the last two years has prompted us to expand coverage and new services for a wide range of securities,â said Liz Duggan, managing director, Global Evaluations for Interactive Data. âWe are pleased that our commitment to our clients, along with the new services we have released, have been recognized.â
âWe congratulate Interactive Data on winning this award," said Rob Mannix, publisher, Credit. "Valuation processes are evolving to meet new transparency requirements, and Interactive Data looks set to continue its push into providing its clients with new services and wider asset class coverage.â