Interactive Data Corporation, a provider of financial market data, analytics and related services, announced that its Pricing and Reference Data business has signed an agreement with Korea Bond Pricing (KBP), an agency appointed by the Korean Government to provide valuations for fixed income and derivative instruments to the Korean market. KBP will provide local marketing and support services that will help to promote Interactive Datas international bond evaluations services to KBPs clients in Korea.
Based in Seoul, KBP is the largest provider of valuation services in the Korean market, with over 480 institutional clients including banks, asset managers and insurance companies. Interactive Data offers evaluations for a wide range of asset classes globally. These international evaluations capabilities will now be more readily available to financial institutions in Korea through KBPs local language marketing and support services.
Many financial institutions have been looking to replace broker pricing with independent evaluations, and it has become best practice in the Korean market to subscribe to valuations from third party providers for local currency bonds, says Lee Hak Kyoon, vice president, KBP. The international bond evaluations from Interactive Data will be an important additional service to our existing range of regional valuations for our Korean customer base.
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