LMA Increases European Jurisdictions Covered by Mark-to-Market Service

The Loan Market Association’s (LMA) mark-to-market service has been made available to authorised institutions located in Belgium, Cyprus, Denmark and Finland. The service was initially launched in May 2003 and, in addition to the new jurisdictions, it can be used by authorised members located in Abu Dhabi, Bahrain, France, Germany, Ireland, Italy, the Netherlands, Spain, Sweden, and the UK, according to the LMA. Commenting on the development, Steve Snizek, Chairman of the LMA Valuation and Trading Practices Committee said: ‘The service is intended to be used widely among traders, risk managers and portfolio managers, with the express aim of widening the range of pricing information available. We anticipate that there will be an increasing requirement for independent, neutral price sources for loans, particularly in light of the pending changes to the accounting regulations in Europe. The service will enable banks to seek prices for specific loans that do not feature regularly in our weekly Valuation Survey.’

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