Markit, a financial information services company, today announced the launch of a credit default swap information portal designed to increase transparency and provide a broader audience with a tool to monitor the market.
The new data portal will make a wide range of Markit's independent CDS data sets publicly available, including: prices for Markit's family of CDS indices, the Markit CDX and Markit iTraxx; the last quote received by Markit before New York close of trading for approximately 450 of the most liquid CDS contracts, including G20 sovereigns, large financial corporations and constituents of Markit's iTraxx and CDX indices; the biggest daily single name CDS movers for North America, Europe and Asia; and daily Markit/ICE TrustTM CDS settlement prices for the most liquid Markit CDX index contracts listed for clearing by ICE Trust.
In support of the industry's migration to a standardized CDS contract and quoting convention, Markit has published a free online calculator that converts CDS spreads into the new upfront quoting convention. Markit will also publish educational material to encourage greater understanding of the CDS market.
"The CDS market is viewed as the barometer of health for the broad credit markets," said Armins Rusis, global co-head of fixed income at Markit. "It is therefore important to make information about this market as widely available as possible. Markit remains committed to increasing transparency in the CDS market and we will continue to work with the industry to help it adapt to a changing environment."