CME Group incorporates Fitch CDS pricing service

Source: Fitch Solutions

Fitch Solutions, a division of the Fitch Group, is pleased to announce that the CME Group, the world's largest and most diverse derivatives marketplace, has included Fitch's CDS Pricing Service among those it will use to help price credit default swap (CDS) trades that are cleared through CME Clearing.

The CDS pricing service helps users improve their risk management procedures and covers up to 3,000 single name CDS contracts using pricing data from the member banks of Fitch's global pricing services consortium.

Fitch's CDS pricing service also includes Fitch CDS Benchmarking for highly illiquid names, a tool which provides indicative spread values where there is insufficient market information to determine a consensus price based on market maker contributions.

Ian Rothery, Fitch Solutions' Global Head of Third-Party Distribution and Partnerships, said, "Today's announcement is another significant step that not only extends market access to our CDS pricing data, but which also underscores Fitch Solutions' position as a key market data vendor. CME Clearing is one of the largest central counter-party services in the world and we are very pleased to be working with them."

Comments: (0)