| Markit’s European ABS pricing service offers an independent source of pricing data, covering the entire ABS product spectrum in Europe |
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| Product summary: |
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Markit’s European ABS pricing service offers daily pricing data on the universe of structured products issued in Europe, including RMBS, CMBS, ABS, and cash CDOs.
As with Markit's existing price verification services for CDS, bonds, and loans, the European ABS product reflects Markit's core competency of leveraging partnerships with the dealer community to provide high quality data that meets the needs of both buy- and sell-side participants.
The result is a rigorous data set, appropriate for mark-to-market, that has been subjected to thorough audit procedures and offers the benefit of portfolio-wide coverage, daily pricing, and full automation. |
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| Key benefits: |
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| Reliable Data - Contributions are subjected to multiple cleaning algorithms to produce quality composite bid and offer spreads, composite bids and offer prices, and weighted average lives |
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| Broad Dealer Contributor Base with over 25 dealers committed to contributing the pricing being used for client revaluations |
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| Independence in the revaluation process as multi-contributor data is provided where available |
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| By leveraging Markit's single name dataset, Markit ABS Sector benchmarks provide insight into over 200 ABS sector groups organised by asset class, rating, average life and country of collateral pairings |
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| Automating pricing requests via a single electronic pricing feed delivers operational efficiency to the mark-to-market process |
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| Additional Disclosure available when prices are marked as private |
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| Key functions: |
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| Sell-Side Customers have access to composite and individual contributor pricing where Markit observes three or more independent contributors |
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| Buy-Side Customers have access to composite and individual contributor pricing regardless of the number of contributors |
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| Proprietary permissioning mechanism and also allows clients to request quotes from dealers to extend coverage when transactions have been deemed private |
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