SunGard and Markit continue data relationship 23 October 2015New York Reporter: Stephanie Palmer
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SunGard is extending its pricing and data services to include the full portfolio of Markit’s fixed-income data, giving clients access to customisable data sets, pricing and validation.
The move is an extension of SunGard’s existing relationship with Markit; SunGard’s pricing and data service already includes Markit’s iBoxx index data. Customers will now have access to more validated data, with daily coverage of 2.4 million instruments including municipal bonds, corporate and sovereign bonds, securitised products, bank loans and credit default swaps.
As part of SunGard’s investment operations suite, the pricing and data services supports the full investment process, providing third-party administrators and asset managers with customisable and scalable price validation solutions.
The services uses pricing inputs from various sources, which are fed in to a pricing model in order to produce a new price, validated against several parameters. It includes independent and transparent pricing and liquidity data for fixed income instruments.
This is designed to allow clients to focus on their core business, while improving operational efficiency, reduce financial and reputational risk, and reduce costs.
Doug Morgan, president of institutional asset management at SunGard’s asset management business, said: “We are delighted to provide our customers with the full range of bond data Markit has to offer. Helping them to carry out more comprehensive validations across nine asset classes is critical to helping them operate at maximum efficiency and keep them ahead of the curve.”
Kiet Tran, managing director of fixed income pricing data at Markit, added: “SunGard is a key consideration in our customers’ workflow, and we believe that working with SunGard to develop a custom integration strengthens our mutual customers’ ability to meet the ongoing regulatory and investment accounting requirements.”
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