18 October 2017

Markit launches real-time price discovery service

10 July 2007  |  1702 views  |  0 Source: Markit

Markit, the leading provider of independent data, portfolio valuations and OTC derivatives trade processing, today announced the official launch of Markit Quotes, a real-time quote parsing service.

Designed for the buy-side, Markit Quotes extracts indicative and live prices from dealer pricing runs and converts them into real-time data, allowing portfolio managers and traders to cut through the thousands of electronic messages they receive daily to gain an immediate view of market levels. The service enables clients to see best bids and offers at a glance, and the parsed data is made available through the website, Microsoft Excel or via a feed.




Roy Bottomley, Co-Head of Structured Credit Trading at Maple Securities, commented: "Markit's quote parsing service extracts time-sensitive information from the large number of quotes that dealers send us each day. By removing the need to sift through incoming emails, Markit Quotes allows us to dedicate ourselves fully to trade ideas and is of immense value in helping us select axed counterparties pre-trade."



Unique to Markit Quotes is the display of all parsed data against Markit's clean, consensus closing curves for the broad universe of around 3,300 distinct credits. The combination of intra-day parsed data with Markit's comprehensive end-of-day service allows clients to calculate real-time P&L on all positions. This feature is particularly pertinent since dealer CDS pricing runs often only provide the five year point.



Credit default swap (CDS) prices are shown against Markit RED codes, the market standard reference entity and reference obligation identifiers used throughout the CDS market.



Chris Chesney, Managing Director at KBC Financial Products, said: "Markit Quotes has boosted our ability to gather market intelligence. It is very useful to be able to see the real-time CDS data against Markit's benchmark closing prices and RED."



Markit Quotes spans bonds, CDS, credit and structured finance indices, index tranches and loan CDS. Markit will add loans, convertible bonds and structured finance securities in the coming months.



"Markit Quotes is designed to optimis to optimise the way in which our clients manage often overwhelming amounts of incoming information. It allows them to monitor intra-day activity with ease, and goes hand-in-hand with our end-of-day pricing service for mark-to-market. We are pleased we can now offer our clients an all-encompassing service to meet their every pricing need," noted Kevin Gould, Executive Vice President and Head of Data Products and Analytics at Markit.

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
Register nowvisit www.vasco.comvisit www.innotribe.com

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
15270 views comments | 12 tweets | 4 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
8465 views comments | 16 tweets | 21 linkedin
hands typing furiouslyHow artificial intelligence can deliver a...
7962 views 0 | 7 tweets | 9 linkedin
satelliteGates Foundation backs Ripple collaboratio...
7432 views comments | 13 tweets | 8 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
6585 views comments | 8 tweets | 16 linkedin

Featured job

Competitive base, commission, benefits
London, UK

Find your next job