Markit and Cairn Capital plan to launch the Markit ABS Performance Monitor platform, the firms announced today.
The proposed service will merge Markit’s ABS surveillance capabilities with Cairn’s experience in advisory and credit markets to provide performance monitoring for European ABS.
Service users will have access to current and historical one - page deal summaries, providing information on comparable key performance indicators, recalculated credit enhancement and excess spread, collateral stratifications, bond payment information, and comprehensive documentation, the companies said.
The platform’s graphing functionality will provide deal-defined trigger settings as well as user defined triggers with traffic light alerting.
“Markit continually strives to innovate and enhance our products and services to meet market demands,” said Kevin Gould, Markit’s executive vice president. “This relationship with Cairn allows us to combine our capabilities in ABS data with the proven expertise of a leading asset management and advisory firm to produce an advanced monitoring tool that will allow users to quickly determine the status of their ABS positions.”
Markit is a global financial services information company and Cairn is an independent asset management and advisory firm based in London.