SunGard (http://www.sungard.com) today announced the integration of Dow Jones CDX and iTraxx index pricing within its Decalog portfolio management solution. The index pricing is provided by Markit Group Limited ("Markit"), the calculation agent for both indices.
Markit Group is a leading provider of independent pricing, reference data, portfolio valuations and OTC derivatives trade processing for the global financial and commodities markets. SunGard's Decalog (http://www.sungard.com/decalog) is a front- and middle-office solution for investment management activities at global asset management firms.
SunGard's Decalog CDS (Credit Default Swaps) module covers the full order/trade life cycle including novation and default event management. Decalog CDS module already offers a generic pricing solution which is certified and integrated with other products. This new integration completes the module offering.
Mark Hunt, director of product development at Markit, commented, "As the buy-side gets more exposure to credit derivatives, the integration of the CDX and iTraxx indices within SunGard's Decalog solution is a key component for investment managers globally. We are pleased to help SunGard in our capacity as calculation agent for both families of credit derivative indices to help provide SunGard's Decalog users with additional accuracy and transparency in their credit derivatives trading environment."
Elias Nechachby, vice president of business development at SunGard's Decalog business unit, added, "The exponential growth of credit derivatives in recent years has fundamentally increased the need for a flexible, automated and comprehensive solution to manage the complete life cycle of these products, and CDS in particular. It is no longer enough to cover these products from the sidelines. Users now expect the same level of functionality and coverage for CDS that exists for other asset classes. In that regard, we saw the integration of Markit data feeds into our CDS module as mandatory."
Share
CDS IndexCo is a consortium of 16 investment banks which are licensed to be market makers in the Dow Jones CDX indexes. The market makers include: ABN AMRO, Bank of America, Barclays Capital, Bear Stearns, BNP Paribas, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, JPMorgan, Lehman Brothers, Merrill Lynch, Morgan Stanley, UBS and Wachovia. www.indexco.com
Dow Jones Indexes
Dow Jones Indexes is part of Dow Jones & Company, which publishes the world's most vital business and financial news information. Dow Jones Indexes is a premier global provider of investable indexes, including the Dow Jones Averages and the Dow Jones Global, Regional, Country and Sector Titans Indexes and is co-owner of the Pan-European Dow Jones STOXX Indexes. Together with Wilshire Associates, Dow Jones Indexes markets and licenses the Dow Jones Wilshire index family, which includes the Dow Jones Wilshire 5000 and its size, style, and sector indexes. Dow Jones Indexes also offers a number of specialty indexes including hedge fund, commodity and credit derivative indexes.
In addition to Dow Jones Indexes, Dow Jones & Company (NYSE: DJ; dowjones.com) publishes The Wall Street Journal and its international and online editions, Barron's and the Far Eastern Economic Review, Dow Jones Newswires, MarketWatch and the Ottaway group of community newspapers. Dow Jones is co-owner with Reuters Group of Factiva, with Hearst of SmartMoney and with NBC Universal of the CNBC television operations in Asia and Europe. Dow Jones also provides news content to CNBC and radio stations in the U.S.
International Index Company Limited
International Index Company (IIC) was established in 2001 and is a leading independent provider of transparent, rules-based, multiple contributor bond and CDS indices. IIC manages and administers the iTraxx credit derivative indices, which have rapidly become the standard benchmarks in the growing credit markets. Over 35 major international financial institutions are licensed by IIC as iTraxx market makers. IIC's European iBoxx cash bond indices have been adopted as industry standard and have been joined by Asian, US Dollar, inflation-linked and ABS index suites in recent months.
iTraxx and iBoxx indices and products based upon the indices have won awards from International Financing Review, International Fund Investment, Risk and Structured Finance International.
IIC is a joint venture of ABN AMRO, Barclays Capital, BNP Paribas, Deutsche Bank, Deutsche B"orse, Dresdner Kleinwort, HSBC, JP Morgan, Morgan Stanley and UBS.
Markit Group Limited
Markit Group Limited is a leading provider of independent data, portfolio valuations and OTC derivatives trade processing to the global financial and commodities markets. The company receives daily data contributions from over 65 dealing firms, and its services are used by over 450 institutions to enhance trading operations, help reduce risk and manage compliance. Markit's recent acquisition of MarketXS, a leading provider of real-time technology and trading solutions to the financial services industry, powers the distribution of its data and services.
Markit's position in the derivatives markets has been acknowledged by the industry with awards from Credit for Best Operational Support Services Provider 2006; Inside Market Data for Reference Data Provider of the Year 2006, and Company to Watch 2006; Risk Magazine for Trading Initiative of the Year 2006 (Credit Event Fixings); Structured Finance International's Editor's Award for Advancing Structured Finance 2006; International Securitisation Report's Editor's Award for Innovation 2005; International Financing Review's Innovation of the Year 2005 (Credit Event Fixings); Financial News' Best Derivatives Data Provider 2005; and Institutional Investor's Operations Management Award for Vendor of the Year 2005.
For more information, see www.markit.com
SunGard's Decalog
A front- and middle-office solution for investment management activities at global asset management firms, Decalog provides portfolio management, performance analysis, compliance, trading and order management. Please visit: www.sungard.com/decalog
SunGard
With annual revenues of $4 billion, SunGard is a global leader in software and processing solutions for financial services, higher education and the public sector. SunGard also helps information-dependent enterprises of all types to ensure the continuity of their business. SunGard serves more than 25,000 customers in more than 50 countries, including the world's 50 largest financial services companies. Visit SunGard at www.sungard.com.
Trademark Information: SunGard, the SunGard logo and Decalog are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and other countries. All other trade names are trademarks or registered trademarks of their respective holders.
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