Under the new initiative, loan-level performance data will eventually be required for any assets being used as collateral under the ECB Repurchase Agreements (Repo) System. The initiative starts with Residential Mortgage Backed Securities (RMBS), with other asset classes to follow.

"This is a significant shift from existing requirements", said Randall Orbon, vice president, Sapient Global Markets. "The challenge for most data providers will be locating, identifying and extracting large volumes of complex data from disparate systems. Not to mention that they will also need to standardize the data to fit the ECB's asset-specific templates, validate the data content, and create and submit compiled XML files to the European DataWarehouse. Today's announcement is a huge step forward for companies looking to ensure compliance, as it will allow data providers and users to plan, prepare, build and deliver loan-level data within the ECB's short timeframe."

The new Sapient Global Markets offering includes a combination of services such as complex data mapping and enrichment, the conversion of data between formats required by different regulators such as the ECB and Bank of England (BoE), and the streamlining of two-way communication between regulators and data users through custom built connectivity channels. All services are provided by a team of experts fluent in the business and technology requirements of the structured finance markets. The services also include:

Data mapping
Data validation
Data enrichment
Data back loading
API construction

As one of the principal constructors of the European DataWarehouse, the European central data repository owned and operated by the market for the market and endorsed by the Eurosystem, Sapient Global Markets is in a unique position to help companies complete complex data extraction, transformation, standardization and reporting of loan-level characteristics and performance of securitized bonds.

To assist da assist data providers integrating with the European DataWarehouse, Sapient Global Markets is also providing an XML data validation service. The service will receive XML test data files as firms start to generate RMBS and SME XML data during their development and testing, and will provide invaluable early insight into eligibility against ECB data validation criteria, allowing firms to better manage their collateral. Sapient Global Markets can also provide the resources to help back load loan-level data for existing RMBS, which is critical if they are to continue to be used as collateral after the deadline.

For investors and other data users looking to extract maximum insight and value from the newly available volumes of detailed loan-level data, Sapient Global Markets' Structured Finance Risk Manager can then compare evolving loan performance over time, dramatically increasing deal insight, understanding of how performance has evolved over time, and calibration of cash flow modeling.