Reference DataCDS

Markit Reference Data provides verified reference data to the credit derivatives market.

Customers

  • Hedge funds
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  • Interdealer brokers
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  • Banks
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  • Market data service providers
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  • Trade processing platforms

Statistics

  • 13kreference entities
  • 6kreference obligations

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Product Summary

Confirming CDS trades with accurate data is essential for managing risk and maintaining operational efficiency in the market. Historically, firms had used many operational and legal resources to manually confirm CDS reference data while trying to avoid trade breaks with their counterparties.

Markit Reference Data confirms the relationship between a reference entity and a reference obligation, as well as corporate actions, CDS succession events and credit events. We also provide verified index and constituent information for credit indices, including updated weighting and index factors upon a credit event.

Our CDS reference data enables counterparties to rapidly agree on transactions and to have confidence in the integrity of the underlying reference data.

    Key Benefits

    • Data integrity

      Legal verification of reference data through a proven, multi-stage scrubbing process

    • Trade efficiency

      Unique alphanumeric RED codes assigned to all reference entities and reference obligations, which are used to confirm trades on MarkitSERV and other trade matching and clearing platforms, facilitating straight-through processing

    • Dedicated support

      Global support team available to research reference data inquiries

    • Distribution

      Data accessible via web, automated downloads of XML reports or third-party platforms

    STANDARD REFERENCE OBLIGATION

    • Standard Reference Obligation

      The 2014 ISDA Credit Derivatives Definitions are an updated and revised version of the 2003 ISDA Credit Derivatives Definitions, a document that contains basic terms used in the documentation of most credit derivatives transactions.

      The 2014 Definitions introduce the standard reference obligation (SRO), allowing for the adoption of a standardised reference obligation across all market standard CDS contracts on the same reference and seniority level.

      Markit is the appointed SRO administrator and will publish the SRO list specifying the reference obligation for SRO applicable names. The SRO list is for use in accordance with the 2014 ISDA Credit Derivatives Definitions and the SRO Rules.

      The next SRO quarterly submission date is August 3rd 2016.

      For any SRO related questions or challenges please contact Markit at red@markit.com


      REGISTER FOR THE SRO LIST

    PACKAGE OBSERVABLE BONDS

    • Package Observable Bonds

      The 2014 ISDA Credit Derivatives Definitions are an updated and revised version of the 2003 ISDA Credit Derivatives Definitions, a document that contains basic terms used in the documentation of most credit derivatives transactions.

      Markit is the appointed POB administrator and will publish the POB list specifying the reference obligation for POB applicable names. The POB list is for use in accordance with the 2014 ISDA Credit Derivatives Definitions and the POB Rules.

      REGISTER FOR THE POB LIST

    LPN Reference Obligation List

    • LPN Reference Obligation procedures

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    • "Gazprombank" (Joint-stock Company)

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    • City of Moscow

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    • Evraz Group S.A.

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    • GAZPROM PUBLIC JOINT STOCK COMPANY

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    • Joint stock commercial bank - Bank of Moscow (open joint stock company)

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    • Joint Stock Company "ALFA-BANK"

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    • Joint Stock Company "Russian Railways"

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    • Joint Stock Company "Russian Standard Bank"

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    • Joint stock company Russian Agricultural Bank

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    • Joint Stock Company The State Export-Import Bank of Ukraine

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    • MDM Bank, Public Joint Stock Company

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    • MOBILE TELESYSTEMS FINANCE S.A.

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    • National Joint Stock Company "Naftogaz of Ukraine"

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    • Oil Transporting Joint Stock Company "Transneft"

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    • Open Joint Stock Company "Oil Company Rosneft"

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    • Public Joint Stock Company "ALROSA"

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    • Public Joint Stock Company "MegaFon"

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    • Public Joint Stock Company "Mining and Metallurgical Company" Norilsk Nickel

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    • Public Joint Stock Company "Oil company "LUKOIL"

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    • Public Joint Stock Company "Severstal"

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    • Public Joint Stock Company "UkrSibbank"

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    • PUBLIC JOINT STOCK COMPANY "UKRSOTSBANK"

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    • Public Joint Stock Company "Vimpel-Communications"

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    • PUBLIC JOINT STOCK COMPANY COMMERCIAL BANK "PRIVATBANK"

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    • Public Joint-Stock Company "ALFA-BANK"

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    • Public Joint-Stock Company "Bank Otkritie Financial Corporation"

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    • Rosneft International Holdings Limited

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    • Sberbank

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    • SISTEMA JOINT STOCK FINANCIAL CORPORATION

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    • state corporation "Bank for Development and Foreign Economic Affairs (Vnesheconombank)"

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    • VTB Bank (public joint-stock company)

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    • Yapi ve Kredi Bankasi A.S.

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    Expired LPN Reference Entities List

    • Gazprombank (Open Joint - stock Company)

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    • JSC "GAZPROM"

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    • JSC "Severstal"

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    • JSC VTB Bank

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    • MDM Bank, Open Joint Stock Company

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    • Open Joint Stock Company "ALROSA"

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    • Open Joint Stock Company "MegaFon"

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    • Open Joint Stock Company "Oil Company "LUKOIL"

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    • Open Joint Stock Company "Vimpel-Communications"

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    • Open Joint Stock Company Mining and Metallurgical Company "NORILSK NICKEL"

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    • Open Joint-Stock Company "ALFA-BANK"

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    • Open Joint-Stock Company "Bank Otkritie Financial Corporation"

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    • Russian Agricultural Bank

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    Sukuk Reference Obligation List

    • Sukuk Procedures

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    • ALDAR Properties PJSC.

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    • Dar Al Arkan Real Estate Development Company

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    • Dubai

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    • Dubai Islamic Bank

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    • Islamic Republic of Pakistan

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    • Kingdom of Bahrain

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    • Malaysia

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    • Nakheel Development Limited

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    • Republic of Indonesia

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    • Republic of Turkey

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