Markit Launches Integrated ABS Monitoring Service
Markit has launched the first integrated pricing and performance monitoring service for the European asset-backed securities (ABS) market. The service offers market participants a view of European ABS securities and collateral performance information alongside daily independent bond pricing sourced from 27 market makers. Clients can access closing prices, spreads and average lives for over 5,100 European ABS securities; bond and collateral performance data on more than 1,800 European ABS deals; and 17,000 collateral reports. This dataset allows investors to track pool and loan performance including prepayments, defaults, delinquencies and changes in credit quality. The new platform builds on Markit’s existing ABS pricing service and ABSReports, the deal reporting service that the company acquired in January this year. Transactions covered include ABS, residential mortgage-backed securities (RMBS), commercial mortgage-backed securities (CMBS) and collateralised debt obligations (CDO).