Interactive Data Expands Interest Rate Swap Valuation Service
August 05 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
its interest rate swap valuation service by adding 3 p.m. ET
valuations, as well as independent valuations for compounding
swaps, and certain historical valuations for interest rate and
credit default swaps. Interactive Data�s interest rate swap
valuation service assists clients by providing information they can
use to efficiently value their portfolios containing these
over-the-counter (OTC) derivatives. The Company currently offers
interest rate swap valuations in six major currencies and estimates
that its coverage includes approximately 95% of the total notional
amount of interest rate swaps outstanding. The International Swaps
and Derivatives Association (ISDA) found that the notional amount
of interest rate derivatives outstanding (which include interest
rate swaps) rose 34 percent year-over-year to $382.3 trillion at
the end of 2007. �As more investment portfolios contain interest
rate swaps, we�ve expanded the capabilities of our valuation
service to respond to client demand for a broad range of
independent valuations,� said Shant Harootunian, managing director
of evaluated services, Interactive Data Pricing and Reference Data.
�Our new 3 p.m. interest rate swap valuations are synchronized with
the corporate bond evaluations we currently produce, and they
complement our end-of-day valuations for this asset class.
Accounting firms and hedge fund processors have also identified
historical valuations for interest rate and credit default swaps as
critical for monitoring client positions, as they need to retrieve
valuation levels reflecting the previous end of month. We also
added compounding swaps to enable clients to obtain valuations on
interest rate swaps with nontraditional structures.� �As investment
portfolios become more diverse and complex, there is a heightened
need for independent valuations of growing numbers and categories
of hard-to-value financial instruments,� said Stephen Bruel,
analyst, Securities & Capital Markets for TowerGroup. �In
addition, we believe that market data providers who can automate
the process for delivering valuations for a broad range of OTC
derivatives and evaluations on millions of fixed income securities
will continue to experience high demand for their products and
services.� The interest rate swap valuation service offers
user-friendly asset setup screens and the ability to upload trade
data and download output files which can help limit the occurrence
of manual input errors. Interactive Data provides current and
historical valuations for a wide variety of alternative investments
including: fixed-for-floating interest rate swaps (including
forward starting swaps); as well as third party valuations for
syndicated bank loans; single name credit default swaps (CDS); and
CDS trades linked to the Markit CDX and iTraxx� families of
indices. Historical valuations for interest rate swaps are
available going back to June/December 2007 based on the currency of
the swap, and are also available for credit default swaps for
recent trading days and month-ends. 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 Corporation is celebrating its 40th anniversary in 2008.
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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