JPMorgan Chase and RiskMetrics are partnering to deliver analytical data to a new industry-wide Web site for collateralised debt obligation (CDO) market participants.
The CDOVantage site will provide tools such as performance analysis, industry benchmarks, market news, and research to enhance the clarity, transparency and liquidity of the CDO industry. By improving transparency and linking site users to other CDO participants, CDOVantage seeks to promote overall CDO market growth.
"CDOVantage's objective," says Steve Patterson, senior vice president, Institutional Trust Services' CDO business executive at JPMorgan, "is to create an inclusive, non-proprietary, Web-based platform that will serve as a community for CDO market participants - trustees, investors, CDO collateral managers, rating agencies, underwriters, and the investment banks structuring these transactions."
As part of its commitment, JPMorgan is to use RiskMetrics' CDO Manager software, which was specifically customised for the venture.
Ethan Berman, CEO, RiskMetrics Group, says: "By bringing together trustee data, RiskMetrics Group's software, and CDOVantage's Web-enabled capabilities, the new Web site provides a unique and highly sophisticated tool to the CDO marketplace."