Markit RED LCDS™
The LCDS market is information-intensive. Trading LCDS requires efficient access to detailed information including entity characteristics, credit agreements and loan tranche data. While of critical importance, this information is also a challenge to gather, manage and access efficiently.
Markit has worked with the LCDS trading community since 2005 to help craft an efficient industry solution to the management of information that will help power the growth of the LCDS market. Markit RED LCDS is being embraced by the leading trading firms globally as an outsourcing tool that reduces risk and increases operational efficiency.
Markit RED CDS and Markit RED LCDS are efficient options for firms that would like to reduce the cost of managing information in these marketplaces. Nearly 300 institutions rely on the Markit RED range of data management options today, underscoring the value and quality of these services.
Web-based and XML Data Delivery
The Markit RED LCDS data is available via the Markit website from three easy-to-use viewers. Or download RED data in XML and integrate into in-house trading, risk management, operational and reference data systems.
Key Features
- More than 250 reference entities and 800 tranches are verified and maintained as part of the Syndicated Secured list for North America
- Legally verified reference entity names to reduce legal and operational risk
- Proprietary, tried and tested reference data scrubbing process
- Legal information supplemented by ‘Dealer Poll’ information on the lien priority
- Unique, 9-digit alpha-numeric CLIPS identify a reference entity / facility pair and for use in matching on DTCC
- Regular, comprehensive re-scrubs and following any corporate events or refinancings
- Automated XML data downloads for the LCDX and iTraxx LevX loan index constituents
- Submit scrub requests on-line
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