Bloomberg to integrate Mark-it's reference entity database with trading platform

Source: Mark-it Partners

Mark-it Partners Ltd. ('Mark-it'), the world's first integrated daily pricing service for global credit derivatives, cash credit instruments and syndicated loans, today announced that Bloomberg has incorporated Mark-it's RED (reference entity database) data into its service.

By integrating this database into its descriptive, analytical and electronic trading pages for credit default swaps and related markets, Bloomberg is enhancing its comprehensive and easy to use Bloomberg terminal at no additional cost.

In addition, dealers on Bloomberg's Auto Execution platform now have the ability to quote bid/offer spreads based on standard contracts, using the RED reference entity names and the RED default reference obligation.

Lance Uggla, CEO of Mark-it Partners comments, "Bloomberg's use of this service enforces Mark-it RED's position as the reference data standard in the credit markets. The ubiquitous nature of Bloomberg's products means that an even greater proportion of the business community will be able to access and benefit from RED, bringing greater transparency to the market."

"Executing via Bloomberg's CDS Auto Execution platform is key for our business," said Charles Longden, Global Head of Structured Credit Trading at ABN AMRO. "RED, as the market standard for reference entity data, facilitates client acceptance and helps augment Bloomberg’s extensive offering to the marketplace."

"Bloomberg continually adds value to our customers through product enhancements and the addition of analytics and data in one complete package," according to Leslie van Orsdel of Bloomberg. "Bloomberg terminal users who trade electronically will now have even more standardisation of deal details for speed and accuracy of trading. They will have the ability to use RED, the market standard for reference entity information, in their communications with counterparties over the Bloomberg terminal."

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