Thomson Financial Adds Standard & Poor’s Fixed Income Evaluations Into Thomson Intraday Snapshot Service
The Agreement addresses growing demands from customers for illiquid fixed-income securities.
LONDON, 07/10/2006, Thomson Financial, an operating unit of The Thomson Corporation (TSX: TOC, NYSE: TOC), and leading provider of information and technology solutions to the worldwide financial community, today announced that it has signed an agreement with Standard & Poor’s Securities Evaluations to provide its complete universe of 2.6 million evaluated bond prices through Thomson Intraday Snapshot Service.
The Thomson Intraday Snapshot Service harnesses Thomson Financial’s datafeeds expertise by providing investment management clients with a fast, comprehensive, batch snapshot service of Thomson Financial’s global real-time and reference data. The addition of evaluated bond prices to the Thomson Intraday Snapshot Service will specifically help fund administrators and hedge fund management clients address operational risks arising from opaque pricing of illiquid securities. These include concerns about the accuracy and validity of margins, capital, collateral, hedging and reporting, which were recently highlighted by the UK’s Financial Services Authority in its Financial Risk Outlook 2006.
Thomas Aubrey, Investment Management Director, Thomson Financial, commented: “We appreciate that our clients need to price illiquid fixed income securities to help manage both operational risks and changing regulatory requirements. The incorporation of bond valuations from Standard & Poor’s Securities Evaluations to the Thomson Intraday Snapshot Service, which already includes the full breadth and depth of Thomson Financial’s real-time and reference content, will help our clients secure timely, independent and objective security valuations.”
Thomson Financial selected Standard & Poor’s Securities Evaluations’ content in recognition of its expertise and proprietary valuation methodology. This allows for clear, considered and timely prices from the full range of information available, helping firms avoid regional pricing discrepancies and other issues on illiquid markets. Standard & Poor’s Securities Evaluations will deliver prices of illiquid fixed income securities up to five times a day for the following asset classes:
* Structured Debt instruments including Global and European Collaterized Mortgage Obligations and Asset and Mortgage backed Securities.
* Syndicated loans
* US municipals
* Certificates of Deposits
“Our service provides an independent, rigorous and credible answer for intraday valuations and mark-to-market problems within this increasingly important but thinly traded market. This agreement provides an additional important channel for financial services professionals to access Standard & Poor’s global multi-asset class evaluations, ” says Frank Cicotto, Senior Vice President, Securities Evaluations, Standard & Poor’s. “We continue to aggressively grow our global asset class coverage especially in the critically important complex instrument sectors. In addition, we will expand our delivery channels to enable our clients to receive the data when and how they need it.”
Notes to editors
About The Thomson Intraday Snapshot Service
Thomson Intraday Snapshot Service provides a fast, comprehensive, batch snapshot service of Thomson Financial’s global real-time and reference data. It spans multiple asset classes and supports portfolio valuation and risk management processes, without the need for costly additional infrastructure at the client site. The service helps fund administrators and hedge fund management clients perform a range of functions. These include fast portfolio valuation to ensure the latest information is used prior to publication, analysis or release, improved risk management and attribution to release regulatory capital; and the generation of accurate information to support performance attribution – across a wide range of prices for securities and portfolios. Key features are:
* Multi asset coverage - including equities, benchmark bonds, derivatives, forex and money market
* Breadth and depth of content - over 130 Global exchange and third party source
* Timeliness – delivery within three minute
* Low cost of ownership – through delivery as a hosted solution, which means that Thomson infrastructure is not required at the client sit
* Compliance - Exchange permissions managed by the Thomson Intraday Snapshot Servic
* Co-mingling of reference data alongside accurate price
* Reliability - with full resilience including back up and disaster recovery capabilities, guaranteeing data delivery
About Thomson Financial
Thomson Financial is a US$1.9 billion provider of information and technology solutions to the worldwide financial community. Through the widest range of products and services in the industry, Thomson Financial helps clients in more than 70 countries make better decisions, be more productive and achieve superior results. Thomson Financial is part of The Thomson Corporation (www.thomson.com), a global leader in providing integrated information solutions to more than 20 million business and professional customers in the fields of law, tax, accounting, financial services, higher education, reference information, corporate e-learning and assessment, scientific research and healthcare. With revenues of US$8.5 billion, The Thomson Corporation lists its common shares on the New York and Toronto stock exchanges (NYSE: TOC; TSX: TOC).
About Standard & Poor’s Securities Evaluations, Inc.
Standard & Poor’s Securities Evaluations, Inc. provides independent valuations on over 2.6 million fixed income securities. Our specialist team of professional evaluators, supported by over 100 operations and research personnel, generate daily and intra-day prices for a comprehensive range of instruments.
Our proprietary valuation methodology enables us to derive clear, considered and timely prices from the full range of information available, helping firms avoid regional pricing discrepancies and other issues on illiquid markets.
Securities evaluations services provided by Standard & Poor’s Securities Evaluations, Inc., is a wholly owned subsidiary of The McGraw-Hill Companies, Inc. Analytic services and products provided by Standard & Poor’s are the result of separate activities designed to preserve the independence and objectivity of each analytic process. Standard & Poor’s has established policies and procedures to maintain the confidentiality of non-public information during each analytic process.
About Standard & Poor’s
Standard & Poor’s, a division of The McGraw-Hill Companies (NYSE:MHP), is the world’s foremost provider of independent credit ratings, indices, risk evaluation, investment research, data and valuations. With approximately 6,300 employees located in 21 countries and markets, Standard & Poor’s is an essential part of the world’s financial infrastructure and has played a leading role for more than 140 years in providing investors with the independent benchmarks they need to feel more confident about their investment and financial decisions. For more information, visit www.standardandpoors.com.
- Contact Information
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- Manager, Public Relations
- Thomson Financial
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