FT Interactive Data enhances bank loan pricing service
FT Interactive Data, an Interactive Data (NYSE: IDC) business and a leading supplier of financial information to global markets, today announced enhancements to its bank loan pricing service that can help clients more efficiently update critical information about the syndicated bank loans in their portfolios.
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FT Interactive Data's bank loan pricing service, which provides clients with seamless access to independent valuations of syndicated bank loans, now also automates the delivery of refinancing, termination and substantial amendments to loans, as well as the effective date of the change. Due to the massive volume of loans in the marketplace, estimated to have reached $3.5 trillion in 2005*, it can be challenging for firms to efficiently keep track of these events.
The bank loan pricing service uses a web-based user interface to quickly deliver information for a specified universe of loans to clients. Bank loan prices are provided by Markit Group Limited ("Markit") and drawn from more than 70 dealers in the bank loan market. FT Interactive Data's bank loan pricing service is available through an add-on to FT Interactive Data's evaluation services or as a module of its FTSSM online portfolio administration service.
"Enhancements such as this demonstrate FT Interactive Data's commitment to developing offerings that automate processes that have historically been manual, time consuming, and error prone," said Ray D'Arcy, president of sales, marketing and institutional business development, Interactive Data Corporation. "We believe that providing our clients access to a broad range of information through flexible offerings that seamlessly integrate into their workflow can help maximize efficiency and transform a firm's use of data into a competitive advantage."