Markit will add U.S. CMBS to its evaluated bond pricing service. Prices in the sector will be supplied by CMBS analytics provider Trepp.

The addition of CMBS complements the firm’s  U.S. ABS and MBS pricing service. It also allows Markit to provide clients with access to independent prices across the whole universe of U.S. structured finance securities.

Recent additions the structured finance securities covered by Markit’s ABS pricing service include non-agency securities (~60,000), agency passthroughs (~1 million), agency CMOs (~100,000) as well as credit card, student loan and auto securities (~3,500).

“We are delighted to incorporate Trepp’s high quality prices within our evaluated bond pricing service," said Nigel Hyde, managing director and global head of fixed income pricing at Markit. "This is good news for transparency in the US structured finance markets.  Our service not only enables our customers to price the US structured finance securities on their books accurately but it also allows them to understand how prices on these securities are calculated.  This is crucial for auditing and regulatory reporting purposes.”

“We are very pleased to be teaming up with Markit on this new initiative," Andrew Leibman, senior vice president at Trepp. "The volatility in fixed income over the last few years has underscored the need for investors to have access to superior valuations that reflect the latest market turns.  By combining Trepp’s best of breed CMBS prices with Markit’s well-regarded ABS and RMBS valuations, investors now have the complete solution.”


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