Yonhap Infomax, the financial news and market intelligence arm of Yonhap News Agency, South Korea's largest news provider and semi-official wire service, has announced the purchase of indicative CDS data from SuperDerivatives, the global leader for cloud-based real-time market data, derivatives technology and valuation services for the financial and commodity markets.
The announcement comes ahead of the launch of Yonhap Infomax's new CDS information service, which will enable its users in Korea as well as constituents of its global network under Yonhap Media Group to access SuperDerivatives' real-time indicative CDS data.
Steve Han, Managing Director of Yonhap Infomax comments: "After extensive review and evaluation, we were impressed with SuperDerivatives' ability to deliver an accurate, real-time indication of CDS data for a wide range of sovereign and corporate names - something our customers have been asking for."
Jonathan Epstein, Head of Data Operations at SuperDerivatives, comments: "Korea is a very active market for CDS contracts both in terms of gross notional and number of contracts, and the market is poised for further growth over the coming years. With the ongoing turmoil in the global credit markets, accurate indicative CDS data will be vital to helping Yonhap's customers understand the global credit environment."
Jonathan Yune, Head of Sales, South Korea, added: "As South Korea's profile as a financial hub continues to grow, this partnership with Yonhap demonstrates SuperDerivatives' commitment to this key market. We already provide our award-winning market data and pricing solutions to numerous local banks and securities firms and look forward to increasing our presence further."