Continuing its more than three-year relationship with Markit (Nasdaq: MRKT), a global financial information services provider, SunGard has announced the expansion of its Pricing and Data Services solution to include the entirety of Markit’s fixed income pricing data.
SunGard’s Pricing and Data Services is part of SunGard’s Investment Operations suite, which supports the entire investment process from portfolio management to client reporting. Pricing and Data Services provides third-party administrators and asset managers with a customized and scalable price validation solution that gives clients the freedom to focus on valued added practices such as oversight analysis rather than data scrubbing. It also helps customers improve operational efficiency, mitigate financial and reputational risk, increase ROI, and reduce costs.
Pricing and Data Services previously included Markit’s iBoxx index data. With the addition of Markit’s entire universe of fixed income pricing data, SunGard customers will now have access to the widest breadth of high quality, validated data available from SunGard. Markit’s daily coverage of 2.4 million instruments spans municipal bonds, corporate and sovereign bonds, securitized products, bank loans and credit default swaps.
Markit’s pricing service provides independent, transparent pricing and liquidity data for fixed income instruments to support risk management, product control, compliance and trading workflows. Price inputs from a variety of sources are fed into a dynamic pricing model to produce a resultant price that has been validated against a number of parameters.
Doug Morgan, president of institutional asset management within SunGard’s asset management business, commented, “We are delighted to provide our customers with the full range of bond data Markit has to offer. Helping them to carry out more comprehensive validations across nine asset classes is critical to helping them operate at maximum efficiency and keep them ahead of the curve.”
Kiet Tran, managing director, fixed income pricing data, Markit, said, “SunGard is a key consideration in our customers’ workflow, and we believe that working with SunGard to develop a custom integration strengthens our mutual customers’ ability to meet the ongoing regulatory and investment accounting requirements.”
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