Prescient Markets Inc. has received approval from the National Association of Securities Dealers (NASD) for the broker/dealer membership of its subsidiary, Prescient Securities LLC. Prescient will operate cpmarket.com, an Internet-based asset-backed commercial paper platform.
Fitch held a conference last week in New York, releasing the agency's criteria for rating collateralized debt obligations backed by structured securities, including asset-backed securities, mortgage backed securities, commercial mortgage-backed securities, real-estate investment trust assets, as well as other CDOs.
SuperSolutions Corp. has signed Mitsubishi Motors Credit of America, Inc. (MMCA) to use its Daybreak Lending Software as its credit processing solution for credit origination automation to provide its retail partners with less than a 30-second turnaround on auto-decisioned applications.
Dale Cooney has joined BNY Asset Solutions LLC as the director of sales and senior vice president. Formerly of Archon Group, Cooney has been in the commercial loan industry for 15 years. Cooney will be responsible for sales for BNY's asset servicing, management and reporting products in the commercial mortgage and asset-backed industries.
Interest in the ABCP market continues to grow, as attendance at Moody's Investors Service grew 20% from last year at its conference last week. Volume in the ABCP market has doubled over the last two years, Moody's said.