Markit launches pricing service for loan credit default swaps

By Sara Rosenberg

New York, Dec. 11 - Markit Group Ltd. has launched a pricing service for loan credit default swaps that provides same day and T+1 spreads for over 300 reference entities and tiers traded in the European and North American markets, according to a news release.

Sell-side firms using the service will see spreads on a particular reference entity when there is a minimum of three dealers making markets in that name, while buy-side firms will be able to access even thinly quoted entities.

The pricing service was created because of strong interest in the loan credit default swaps market from dealers and institutional investors wishing to take synthetic exposure to secured loan issuers, the release added.

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