Interactive Data Corporation (NYSE: IDC), a leading provider of financial market data, analytics and related services, today announced that its Pricing and Reference Data business provides daily independent evaluations of commercial paper issues to Standard & Poor's Index Services for its recently launched S&P U.S. Commercial Paper Index.
The S&P U.S. Commercial Paper Index is a new, broad-based index designed to serve the investment community's need for a benchmark representing the U.S. commercial paper market. Interactive Data delivers daily, independent evaluations for more than 3,000 commercial paper issues to S&P for its use in valuing the index.
"As a trusted provider of independent evaluations, Interactive Data is pleased to deliver this information to Standard & Poor's Index Services for its closely followed U.S. Commercial Paper Index," said Shant Harootunian, managing director, Evaluations for Interactive Data. "It is rewarding to see that our daily evaluations for a wide range of securities are enabling a growing and diverse group of clients to obtain critical inputs for their valuation process."
"With commercial paper being a key component of today's capital markets, the S&P U.S. Commercial Paper Index is the first broad benchmark for measuring the performance of and providing additional transparency into this market," said James Rieger, vice president of Fixed Income Indices, Standard & Poor's. "It was important for us to choose a provider of evaluations that offers coverage for the comprehensive collection of securities which comprise this index."