CMA, the credit information specialist, today announced that Erste Group Bank AG, one of Central & Eastern Europe's largest financial services groups, has selected CMA DataVision to provide independent CDS price verification for use across their Valuations, Risk and Trading departments.
Harald Müller, Head of Structuring & Credit Markets at Erste Group, commented "We looked at a number of credit data vendors but DataVision's flexibility, its value-for-money and the quality of service and support we received from CMA really set them apart. Using DataVision across our risk, trading and valuation teams ensures we have a consistent, accurate and independent view of the credit markets so we can more efficiently manage risk and monitor performance across our organisation."
CMA DataVision is a high quality, same day, consensus based price verification data service for CDS, Indices and Tranches, used primarily for mark-to-market, flash P&L, research and analytics. It is sourced from 30 buy-side firms including leading Hedge Funds, Asset Managers and the buy-side desks of global Investment Banks.
Laurent Paulhac, CMA's CEO, said "Robust risk management and greater operational efficiencies are high on the agenda of financial firms worldwide and accurate, timely data is an essential ingredient for achieving these goals and we are delighted that Erste Group has endorsed DataVision's buy-side contribution model from the various options available to them."CMA