Interactive Data Expands Interest Rate Swap Valuation Service
April 08 2008 - 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 expanded
the coverage of its interest rate swap valuation service by adding
independent valuations of fixed-for-floating interest rate swaps in
Australian Dollars and Japanese Yen, in addition to its existing
coverage of swaps in British Pounds, Euros, Swiss Francs and U.S.
Dollars. Interactive Data estimates that the company now covers
nearly 95% of the total notional amount of interest rate swaps
outstanding. In addition, to meet the growing demand for different,
more complex structures of interest rate swaps, Interactive Data
now delivers independent valuations of forward starting swaps. The
expansion of the interest rate swap valuation service complements
the independent valuations for other alternative investments that
Interactive Data delivers, including syndicated bank loans, single
name credit default swaps (CDS), and CDS trades linked to the Dow
Jones CDX� and iTraxx� families of indices. Interactive Data
generates two interest rate swap valuations each day: based on
curves at the end of the day in London (16:30 GMT) and New York
(16:00 ET). Interactive Data can deliver either valuation, or both,
to customers, depending on their needs. The valuations of interest
rate swaps are based on benchmark curves from ICAP, the world�s
premier interdealer broker, other various sources, and trade
details input by customers. �Interactive Data is actively
increasing its coverage of complex structured products in line with
the needs of our clients and emerging industry trends,� said Shant
Harootunian, managing director of evaluated services, Interactive
Data Pricing and Reference Data. �Recent market volatility, the
growing complexity of financial instruments and the introduction of
new regulations, have led to increased client demand for a broad
range of independent valuations from a single provider. We will
continue to work closely with our clients to understand their
requirements, and aim to provide services that can help reduce the
time, cost and effort associated with portfolio valuation
processes.� The interest rate swap valuation service is available
on a standalone basis and as a module of FTSSM, Interactive Data�s
online portfolio administration service. The service offers
user-friendly setup screens and the ability to upload trade data
and download output files. 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 real-time market data,
time-sensitive pricing, evaluations and reference data for millions
of 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 2,300 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, is
Interactive Data Corporation's majority stockholder. 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 6 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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