18 December 2017
visit www.aciworldwide.com

CreditTrade and Totem in credit derivatives joint venture

05 August 2002  |  3358 views  |  0 CreditTrade and Totem in credit derivatives joint venture

CreditTrade is to launch a joint venture with valuations clearing house Totem Market Valuations to provide a consensus-based mark-to-market credit derivatives service.

The joint venture company, Credit Accord, will provide banks with regular collection of credit derivatives data from participating institutions, which will then be made anonymous, aggregated and validated.

Under the terms of the joint venture, CreditTrade will supply pricing data for validation of Credit Accord data as well as consultation and IT support. Totem will supply operational infrastructure, data collection and the administration of the service. Both companies will work together on marketing and branding and general management of Credit Accord.

Krishna Biltoo, head of product development at CreditTrade and responsible for data sales, says: "This new joint venture will help to bring more transparency to the credit derivatives marketplace by bringing valid aggregated data to institutions."

James Prichard, director, Totem Market Valuations, adds: "Credit Accord clients can ask the questions they need to resolve mark-to-market issues without giving away their positions or identity."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit http://cib.db.comvisit www.thomsonreuters.infovisit www.atos.net

Top topics

Most viewed Most shared
satelliteRipple completes XRP Lockup
11351 views comments | 3 tweets | 4 linkedin
Banks tap Ethereum smart contracts for MiFID II complianceBanks tap Ethereum smart contracts for MiF...
10529 views comments | 21 tweets | 26 linkedin
Banks and fintech startups join forces on blockchain-based supply chain pilotBanks and fintech startups join forces on...
7844 views comments | 19 tweets | 22 linkedin
Digital banking startup Loot secures £2.2 million seed roundDigital banking startup Loot secures £...
7637 views comments | 5 tweets | 11 linkedin
Nordea takes Open APIs into live productionNordea takes Open APIs into live productio...
7518 views comments | 6 tweets | 26 linkedin

Featured job

Competitive base, double ote, benefits
London, UK

Find your next job