JPMorgan’s Institutional Trust Services (ITS) Collateralized Debt Obligation (CDO) business has introduced an asset pricing solution that aims to offer the U.S. CDO market independent pricing on individual assets in order to obtain the total portfolio value. The bank says it is willing to provide asset pricing whether or not it is the trustee on the deal.
Morgan has teamed up with Mark-it Partners Ltd., a London-based credit pricing information company that delivers third-party pricing information and related analytics, to offer loan pricing through Mark-it Partners Ltd.’s LoanX platform.
“By allowing JPMorgan to handle the time-consuming task of gathering pricing information, clients can free up internal resources to concentrate on the data analysis, thus enabling efficiency gains,” says Steve Patterson, Senior Vice President and head of JPMorgan’s CDO business.
“Mark-it Partners always looks for the best avenues for increasing transparency and efficiency, and we look forward to assisting JPMorgan in providing its clients the ability to efficiently and accurately price their portfolios,” adds Mike Rushmore, Executive Vice President of Mark-it Partners.
Mark-it Partners was formed in 2001 to provide comprehensive and reliable data for risk management and to create a global benchmark for credit pricing.