Credit risk pricing operation Mark-IT Partners has signed a reciprocal licensing deal with Barclays Capital and Barclays Global Investors.
Under the agreement, Barclays Capital will supply its historical and current credit data to Mark-it Partners in return for access to the vendor's full range of services including daily mark-to-market data for global credit default swaps (CDS) and cash bonds, CDS curve analytics, sector curve construction and the associated set of historical data.
BGI, Barclay's fund management division, will also utilise the Mark-it system globally across various functions - including assisting portfolio managers with investment decisions and providing independent daily valuation of credit portfolios.
Justin Herlihy, principal, head of fixed income product development in London for BGI, says: "We've anticipated the availability of independent daily credit pricing data for some time. Mark-It's service will provide us with the additional market information necessary to better monitor our positions, manage our risk and support our operations."