Deloitte released an enhanced version of its CDO Suite product, an asset administration, compliance, and reporting system designed to support a number of portfolio structures including hedge funds and collateralized debt obligations, which can help agent banks, lenders, and investors track, view, and reconcile loan positions.
The new version of CDO Suite supports the data format guidelines from The Depository Trust & Clearing Corporations loan commitment position reconciliation service. The software helps Deloittes CDO Suite clients automate syndicated loan processing and allows users to generate the data files needed in order to post their loan positions to DTCCs reconcilement service.
Improving operational efficiency and data accuracy in the syndicated loan market are key issues for market participants, says Hillel Caplan, a partner with Deloitte & Touche LLPs securitization services group in New York and the leader of its CDO Suite practice. We have therefore added support for DTCCs Loan/SERV data format guidelines to CDO Suite as a convenience for our clients, and in response to client requests asking us to incorporate this feature into our product.
Caplan noted that in addition to adding support for the DTCC Loan/SERV platform, Deloitte recently introduced a patent pending loan transaction data feed for CDO Suite and is also a participant in a financial products mark-up language syndicated loan working group that is working to establish a common electronic data exchange format for agent-lender communications.
CDO Suite includes detailed tracking capabilities for portfolios/funds that invest in a variety of asset classes including asset-backed securities, bonds, credit default swaps, middle market loans, and syndicated loans and can be used to perform scenario analysis around hypothetical trades and changes in collateral characteristics. It also offers functionality for administrative agents, business development companies, and other loan originators.
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