European ABS Pricing

Markit’s European ABS pricing service offers an independent source of pricing data, covering the entire ABS product spectrum in Europe. The service offers daily pricing data on the universe of structured products issued in Europe, including RMBS, CMBS, ABS, and cash CDOs.

As with Markit's existing price verification services for CDS, bonds, and loans, the European ABS product reflects Markit's core competency of leveraging partnerships with the dealer community to provide high quality data that meets the needs of both buy- and sell-side participants.

The result is a rigorous data set, appropriate for mark-to-market, that has been subjected to thorough audit procedures and offers the benefit of portfolio-wide coverage, daily pricing, and full automation.

Benefits

Reliable Data - Contributions are subjected to multiple cleaning algorithms to produce quality composite bid and offer spreads, composite bids and offer prices, and weighted average lives

Sector Data - By leveraging Markit's single name dataset, Markit ABS Sector benchmarks provide insight into over 200 ABS sector groups organised by asset class, rating, average life and country of collateral pairings

Independent Pricing from a Broad Dealer Contributor Base - Over 25 dealers have committed to contributing the pricing being used for client revaluations. This creates a level of independence in the revaluation process as multi-contributor data is provided where available

Operational Efficiency - Automating pricing requests via a single electronic pricing feed delivers operational efficiency to the mark-to-market process

Additional Disclosure - Markit also provides access to confidential pricing through a proprietary permissioning mechanism and also allows clients to request quotes from dealers to extend coverage when transactions have been deemed private

Data Distribution Rules

Sell-Side - Customers have access to composite and individual contributor pricing where Markit observes three or more independent contributors

Buy-Side - Customers have access to composite and individual contributor pricing regardless of the number of contributors, and can also access pricing where they have been specifically permissioned by dealers

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