LatentZero Partners With Markit To Offer Derivatives Data
New York, Toronto, London, 25th July 2006 - LatentZero, a leading provider of front office systems for the buy-side, has entered into a partnership with Markit Group, the leading provider of independent pricing, reference data, portfolio valuations and OTC derivatives trade processing for the global financial and commodities markets. Under the agreement, Markit's credit derivative pricing for single-name Credit Default Swaps (CDS) and the iTraxx and Dow Jones CDX indices, together with the Markit Reference Entity Database (RED) will be integrated into LatentZero's newly launched Capstone Derivatives™ module for the benefit of mutual customers.
The partnership will enable portfolio managers to accurately model, price and trade credit derivatives within the Capstone front office suite. Pre-integration of data feeds saves firms time and money when deploying a derivatives platform, and helps ensure that systems go live within hours. This enables users to trade immediately, rather than having to wait days, or sometimes even weeks.
Peter John, Capstone Derivatives Product Manager at LatentZero, said: "As derivatives have become a standard instrument in many portfolios, alongside more traditional asset classes, it is essential that asset managers have the appropriate systems in place to manage these more complex portfolios. Specialist intelligence and real-time data feeds are essential, as is the flexibility to handle all asset classes. Our customers and prospects use Markit for derivatives intelligence, so incorporating their data feeds into Capstone Derivatives was a logical step for LatentZero."
Mark Hunt, Director, Product Development at Markit commented "The fast-paced move of buy-side investment management firms into derivative and structured products requires a high degree of integration with best-in-class data sets and portfolio management systems. This gives portfolio managers the insight, control and regulatory comfort necessary to operate across complex asset classes with confidence. Markit is very pleased to work with LatentZero in offering such a solution for our mutual customers."
Capstone Derivatives is a fully functional tool designed specifically for the buy-side. The product provides a single integrated environment where derivatives can be modelled and managed alongside more traditional asset classes. It offers comprehensive derivatives analysis, deal structure and trading for individual or basket trades; full workflow including trade modelling, capture, valuation, and portfolio analysis; and support for swaps including credit default, interest rate, and cross-currency. Capstone Derivatives now integrates with all major derivatives data providers.
Markit provides independent mark-to-market credit default swap (CDS) pricing drawn from over 60 dealing firms, and is the calculation agent for the iTraxx and Dow Jones CDX credit derivative indexes. Markit RED provides industry-standard reference entity and reference obligation identifiers used throughout the fast-growing CDS market.
LatentZero is a global technology firm that specializes in developing complete front-office solutions for the buy-side community. LatentZero's suite of products, known collectively as Capstone, is used by 7 of the world's top 10 asset management organizations. More than 3,500 portfolio managers, traders and compliance officers worldwide rely on Capstone to manage assets in excess of $8 trillion. For additional information, please visit www.latentzero.com
About Markit Group
Markit Group Limited is the leading provider of independent pricing, reference data, portfolio valuations and OTC derivatives trade processing to the global financial and commodities markets. The company receives daily data contributions from 60 dealing firms, and its services are used by 450 institutions. Markit's services are used to enhance trading operations, reduce risk and manage compliance.
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 additional information, please visit www.markit.com.
The Americas - Cindy Arcari
UK and Europe - Melanie Smith
+44 (0) 20 7462 4232
SPARX Communications (PR Agency)
+44 (0) 1753 893 000