Press release: for immediate release
Xenomorph extends into Credit Trading - completes integration of Markit Credit Pricing and Reference Data
London, England, 17 September 2005
Xenomorph, a leading provider of enterprise-wide data management and analytics solutions across all asset classes today announced that it has integrated Markit's daily pricing for credit derivatives and bonds and Markit RED (Reference Entity Database) into its TimeScape Enterprise Solution.
This extends integration of Markit's dataset which already includes dividend forecasting and index management as announced last October.
Xenomorph provide an integrated data driver, which connects directly to Markit's credit data web service. This data is stored historically in the TimeScape framework, which provides high-performance data management and analytic functionality. The combination of Markit's data and Xenomorph's applications enables mutual clients to perform historical analysis on independent, clean credit data and relative spread analysis between issuers. Markit's dataset also supports the independent pricing of credit instruments such as CDSs and CDOs, using TimeScape's Pricing Services.
Greg Johnson, Chief Operating Officer, Xenomorph, said: "The continuing rapid growth in the credit markets means that up to date, independent pricing and reference data has become a vital commodity. We believe the combination of Markit's credit derivatives pricing and Reference Entity Database with TimeScape's data management and analytics capabilities will offer significant benefits to the fast-growing number of our clients who trade credit products. It is another example of how TimeScape can manage independent data sources and provide simple, but highly powerful tools for retrieving and analysing large volumes of complex financial market data."
''The integration of Markit pricing and reference entity data coupled with Xenomorph's high performance data management solution, extends mutual customers' ability to manage their credit operations and exposures alongside their dividend and index requirements. This will give mutual customers an edge in the rapidly expanding credit markets and seamless access to independent pricing. The need to reduce operational and legal risk is also a significant driver in the adoption of Markit's Reference Entity Database (RED) into the trade workflow supported by Xenomorph's enterprise solution,'' said Mark Hunt, Director of Product Development at Markit.
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About Xenomorph
Xenomorph is the leading provider of enterprise-wide data management and analysis solutions to the equities, fixed income, credit and derivatives markets. Xenomorph clients include global investment banks, major asset management companies and hedge funds across the world’s main financial centres, where its solutions are used by traders, risk managers, quantitative analysts, and IT and back office staff. Xenomorph’s TimeScape solutions unite data management, connectivity and analysis, accelerating decision support, risk analysis and financial product innovation, all within a consistent framework that is able to meet the latest regulatory requirements. Xenomorph® and TimeScape™ are registered trademarks of Xenomorph Software Limited. Other product and company names herein may be trademarks of their respective owners.
About Markit
Markit is the leading industry source for asset valuation data and services supporting independent price verification and risk management in global financial and energy markets. Founded in 2001, the company is an independent enterprise with which the world's leading financial institutions and energy traders work strategically to create price transparency. Today, Markit enjoys the sponsorship of 13 financial institutions who manage assets in excess of $10 trillion, and contribution relationships with over 50 dealing firms. Markit has designed, launched and acquired over 20 financial data services, which are now used by over 300 institutions globally. Areas of product expertise and service include an independent valuation perspective on OTC derivatives (credit, equity, FX, rates, energy, power, metals and structured products), syndicated loans, dividend forecasting and index and ETF management. For more information about Markit, see www.markit.com.