Interactive Data Delivers Independent Valuations of Interest Rate Swaps
June 06 2007 - 9:00AM
Business Wire
Interactive Data Corporation (NYSE: IDC), a leading provider of
financial market data, analytics and related services, today
announced that its Pricing and Reference Data business has
introduced a service that will automate the delivery of independent
valuations of interest rate swaps. With the new interest rate swap
valuation service, Interactive Data can help customers more
efficiently value portfolios that contain a broad range of
financial instruments, including securities and over-the-counter
(OTC) derivatives. According to the International Swaps and
Derivates Association (ISDA), interest rate swaps represent a
significant portion of the OTC derivatives market, with a total
notional amount outstanding of $250.8 trillion (as of June 30,
2006). The growth of interest rate swaps, up 25% over the previous
year, has been driven by a number of factors, including the
standardized contract documentation from ISDA, growth in electronic
trading (single and multi-dealer platforms, as well as ECNs), and
availability of automated matching and confirmation services from
the Depository Trust and Clearing Corporation (DTCC). Interactive
Data�s new service delivers valuations of interest rate swaps based
on benchmark curves from ICAP, the world�s premier interdealer
broker, and trade details input by customers. The valuation process
leverages Interactive Data�s technical infrastructure and is
supported by the Company�s business continuity processes and
redundant systems. The interest rate swap valuation service is
available as a module to FTSSM, Interactive Data�s online portfolio
administration service. FTS includes user-friendly setup screens
and reports that include the results of file uploads, and offers
customers the ability to upload trades and download output files.
Interactive Data�s new service will generate two valuations each
day: based on curves at the end of the day in London (16:30 GMT)
and at the end of the day in New York (16:30 ET). Customers can
choose which valuation they would like to receive, or both,
depending on their needs. Interactive Data will continue to work
closely with customers to understand their requirements, and will
expand the new offering based on this input. �By leveraging our
experience in bond evaluations, we have developed a new offering
that can help customers seamlessly obtain independent valuations of
interest rate swaps -- a large, well-established market that is
still experiencing significant growth,� said Ray D�Arcy, president
of sales, marketing and institutional business development,
Interactive Data Corporation. �The new interest rate swap valuation
service complements our current offerings that deliver independent
valuations of credit default swaps, CDS index trades and bank
loans, demonstrating our commitment to expanding the range of
information that we deliver to customers through flexible offerings
that tightly integrate into their workflow.� Additional information
on the new interest rate swap valuation service is available at:
http://www.interactivedata-prd.com/featured.shtml#1. About
Interactive Data Corporation Interactive Data Corporation (NYSE:
IDC) is a leading global provider of financial market data,
analytics and related services to financial institutions, active
traders and individual investors. The Company�s businesses supply
time-sensitive pricing, evaluations and reference data for more
than 3.5 million securities traded around the world, including
hard-to-value instruments. Many of the world's best-known financial
service and software companies subscribe to the Company's services
in support of their trading, analysis, portfolio management and
valuation activities. Through its businesses, Interactive Data
Pricing and Reference Data, Interactive Data Real-Time Services,
Interactive Data Fixed Income Analytics, and eSignal, the Company
has approximately 2,200 employees in offices located throughout
North America, Europe, Asia and Australia. The Company is
headquartered in Bedford, Mass. Pearson plc (NYSE: PSO; LSE: PSON),
an international media company, whose businesses include the
Financial Times Group, Pearson Education, and the Penguin Group,
owns approximately 62 percent of the outstanding common stock of
Interactive Data Corporation. Interactive Data Pricing and
Reference Data provides global securities pricing, evaluations and
reference data designed to support financial institutions� and
investment funds' pricing activities, securities operations,
research and portfolio management. Interactive Data Pricing and
Reference Data collects, edits, maintains and delivers data on more
than 3.5 million securities, including daily evaluations for
approximately 2.5 million fixed income and international equity
issues. Interactive Data Pricing and Reference Data specializes in
�hard-to-get� information and evaluates many �hard-to value�
instruments. Pricing, evaluations and reference data are provided
in the U.S. through Interactive Data Pricing and Reference Data,
Inc. and internationally through Interactive Data (Europe) Ltd. and
Interactive Data (Australia) Pty Ltd. For more information about
Interactive Data Corporation and its businesses, please visit
www.interactivedata.com. Interactive DataSM and the Interactive
Data logo are service marks of Interactive Data Corporation.
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