Markit will now include commodities in the range of instruments covered by its portfolio valuations service, the firm announced today.
Valuations will be availably for commodity derivates, including forwards, swaps (bullet swaps, averaging swaps, spreads and basis swaps) and vanilla options. The markets being covered will include oil, refined products and chemicals, natural gas and power, base metals, precious metals, agriculture and other soft products, coal, emissions, freight, and commodity indices.
The firm calculates its valuations using industry-standard models and a variety of data inputs sourced from market-making banks, exchanges, clearing houses, inter-dealer brokers, and participants in the physical commodities markets.
The service provides independent, post-trade asset pricing to mutual funds, hedge funds, traditional asset managers, fund administrators, custodians, private banks, and corporates. It spans a range of cash and derivative instruments across major asset classes.
“We are pleased to have added commodities to our Portfolio Valuations service which provides independent valuations for all the major OTC derivative markets,” said Kevin Borrett, managing director of portfolio valuations at Markit. “Commodity derivatives represent a very large and active asset class and our clients will benefit from the additional transparency we will provide through our new service.”
In other news from Markit, Dow Jones & Co. has joined Markit Hub, a Web-based business intelligence platform, as its first third-party content provider.
Customers will now be able to access Dow Jones Global Markets News, including stories from Dow Jones Newswires and commentary from Heard on the Street, DJ Market Talk, Money Talks, Big Picture, and Charting Money.
“The addition of Dow Jones and its world-class news services enriches Markit Hub’s content set and builds on the platform’s value to the financial services community,” said Lance Uggla, Markit’s CEO. “We continue to add major content providers to respond to increasing demand for customized views of multiple data sources.”
Markit is a global financial services information company.