SunGard today announced that it will provide an interface to CMA, the credit information specialist, via its FRONT ARENA trading platform.
SunGard's FRONT ARENA customers are now able to upload pricing and reference data directly from CMA, whose end of day credit market pricing data and services are used by thousands of credit market professionals globally.
CMA DataVision is a same day, consensus-based price verification data service for CDS, indices and tranches sourced from 30 buy-side firms including the buy-side desks of leading global investment banks, hedge funds and asset managers. CDS spreads based on indicative observed quotes are delivered by 5pm London and 5pm New York time, giving FRONT ARENA's customers a timely market view and helping enable accurate mark-to-market and flash P&L analysis.
"The combination of FRONT ARENA's trading technology and CMA's buy-side sourced data will help enhance the quality of customer operations across sales, trading, risk management and settlement of credit derivatives," said Laurent Paulhac, chief executive officer of CMA. "As the credit markets continue to evolve, the need for quality data and systems to support a dynamic and complex business is fundamental. FRONT ARENA and CMA are well positioned to help market participants in these areas."
Pontus Eriksson, product manager at SunGard's FRONT ARENA business unit, said, "Our customers operating in the credit derivatives markets are facing increasing operational efficiency challenges. Feeding CMA's CDS data through FRONT ARENA helps institutions to reduce risk and achieve more streamlined trade processes. The integration facilitates uploading of data and it also creates the entities needed to achieve an out-of-the box credit solution. This automates the entire process with the click of a button."
Monis, SunGard's solution for cross-asset-class analytics, also integrates to the CMA DataVision product for its Convertible and Credit Derivatives solutions. Customers of the Monis Data Service receive daily updated credit spread data calculated by CMA from liquid CDS prices. The Monis Data Service provides terms and conditions, pricing and relevant market data on convertible securities, in a format ready-made for the Monis XL and Monis Analyzer products.