IHS Markit has launched a portal that consolidates critical data for participants in the $1 trillion syndicated loan market.
According to IHS Markit, the new portal is a single source for information that custodians, lenders, trustees, and other service providers use to track syndicated loan holdings.
This includes position data, asset servicing activity, and loan reference data, IHS Markit revealed.
Additionally, it combines data drawn directly from approximately 150 agent banks and the multiple loan market services provided by IHS Markit.
The IHS Markit portal is the first and only service in the loan market to integrate data from multiple agent technology systems to deliver a unified view of positions and servicing activity to lenders.
Sarah Wagner, executive director at IHS Markit, commented: “Our experience and network give us the unique ability to bring a transformative data solution to the syndicated loan market.”
“For more than 15 years, we have provided clients with the largest network and the most authoritative platforms and data services in the loan market. Our new portal helps agents, lenders and service providers operate more efficiently by consolidating information that was previously housed separately.”
“The data that underpins position management, trade closing and asset servicing are related. The portal connects these datasets so that if a lender detects inconsistency between their books and the agent’s, they can confirm whether servicing events and trades have been properly recorded. Giving lenders the ability to resolve discrepancies themselves reduces their need to call or email agents for data updates.”
Erik Woodling, executive director at IHS Markit, said: “With about 150 agents on our network, we are the leading technology partner helping lenders and their service providers connect with agents.”
He added: “Our agent network is technology agnostic and we process data from any system the bank has installed. This makes our portal a comprehensive repository for agent bank data and a true one-stop data solution for the market.”
