New enhancements to ABSXchange reflect S&Ps commitment to offering investors and credit analysts the most comprehensive tools for analysing structured finance transactions in Europe
A series of enhancements have been made to ABSXchange S&Ps structured finance analytics platform as part of an extensive programme to help investors deepen their analysis of structured finance transactions.
The latest round of upgrades include automatically-calculated data fields where values are not otherwise supplied by deal servicers; a new screening capability that allows specific assumptions to be applied across chosen elements of a portfolio; and an upgraded user interface that enables investors to re-organise their portfolios more easily.
Data Benchmarks
As part of ABSXchanges new initiative to go beyond merely reporting available data on the website, intelligent data points have been introduced. Calculated using a standardized logic across fields, ABSXchange now improves deal performance completeness (for defaults, losses, repossessions, etc.) when not provided within servicing documentation for a particular deal. By calculating and completing these data fields, the platform now provides benchmarks intended to allow market participants to make true apples-to-apples comparisons.
Portfolio Batch Assumptions
Following the latest upgrades, platform users can now input their assumptions in batches across asset classes, countries and collateral type (prime, sub-prime, etc.). Using the Portfolio Analytics module, this enhancement saves users from inputting each assumption per deal and streamlines the user workflow experience for large portfolios by easily and quickly filtering the most relevant characteristics.
Improved user interface for monitoring portfolios
Users can now organise their portfolios more easily with new re-naming, deleting and copying capabilities introduced to the portfolio user interface. In addition, a fail-safe system has been introduced that keeps a given portfolio within the database for seven days before deletion, allowing the user to restore it should they wish.
Pre-issuance modelling
In addition to these new functionality enhancements, we have been working with arrangers to add further deals to the pre-issuance modelling function, as well as additional counterparty data to the recently-implemented counterparty default analysis capabilities says Derek Caussin, Associate Director, S&P Valuation & Risk Strategies.
The on-going program of upgrades demonstrates Standard & Poors commitment to supporting the evolving needs of structured finance market participants and ensuring ABSXchange remains the ultimate structured finance analytics platform in Europe, adds Caussin.
Working with a number of deal arrangers, ABSXchange has modelled several pre-issuance deals already this year, giving investors the chance to perform their own cash flow analysis before they launch.
Counterparty Default Analysis
Counterparty default data has also been added to the platform. Users can now run counterparty risk analysis assuming single or multiple counterparties to be in default for a given deal or an entire portfolio. Waterfall reports then enable users to estimate the impact of counterparty default on bond cash flows.
D.C.