NEW YORK, NY--(Marketwired - January 13, 2014) - Interactive Data Corporation and Matrix Applications today announced an agreement to provide data and tools to help asset managers to navigate the complex process of margining forward-settling trades.
The Treasury Markets Practice Group (TMPG), which is sponsored by the Federal Reserve Bank of New York, has recommended that all firms margin forward-settling agency mortgage-backed securities (MBS) transactions. The TMPG recommends market participants exchange "two-way variation margins" on a regular basis to mitigate counterparty credit risk.1
This agreement provides Matrix Applications with a license to provide Matrix's clients with access to Interactive Data's evaluated pricing and descriptive data for To Be Announced securities (TBAs), Collateralized Mortgage Obligations (CMOs), agency MBS and U.S. government Treasury and agency securities. This data will be integrated into Matrix's MarginCalculator.com, which provides a cost-effective service to help facilitate the margining of forward-settling trades. Financial institutions trading securities can utilize MarginCalculator.com to track their trades, margin, and exposure.
"MarginCalculator.com enables financial firms to quickly, easily and affordably calculate and track margin requirements without the need to implement comprehensive, and often expensive, collateral management systems," said Stephen Mellert, Managing Director for Matrix Applications. "MarginCalculator.com utilizes Interactive Data's independent evaluated pricing and descriptive data to provide a hosted, cost-effective solution for managing the complexities of margining forward-settling trades."
"We are pleased to provide Matrix Applications with a wide range of pricing and descriptive data to power its service that can help asset managers to better manage their transactions," said Mark Hepsworth, President, Pricing and Reference Data for Interactive Data. "Our ability to integrate our data into a variety of platforms aimed at helping asset managers to meet evolving industry standards underscores our commitment to collaborating with a wide range of innovative financial technology providers."
Through its alliance program, Interactive Data provides access to a broad range of data, analytics and related services to more than 500 software application vendors, service providers, trading platforms, order and execution systems and media portals.
About Interactive Data Corporation
Interactive Data Corporation is a trusted leader in financial information. Thousands of financial institutions and active traders, as well as hundreds of software and service providers, subscribe to our fixed income evaluations, reference data, real-time market data, trading infrastructure services, fixed income analytics, desktop solutions and web-based solutions.
The Company's Pricing and Reference Data business provides global securities pricing, evaluations, and reference data designed to support financial institutions' and investment funds' pricing activities, securities operations, research, and portfolio management. Interactive Data collects, edits, maintains, and delivers data on more than 10 million current and historical securities, including daily evaluations for approximately 2.8 million fixed income and international equity issues. Interactive Data specializes in 'hard-to-get' information and evaluates many 'hard-to value' instruments.
Pricing, evaluations and reference data are provided in the US through Interactive Data Pricing and Reference Data LLC and internationally through Interactive Data (Europe) Ltd. and Interactive Data (Australia) Pty Ltd.
For more information about Interactive Data please visit: www.interactivedata.com.
About Matrix Applications
Matrix Applications is a New York-based technology service bureau that offers a suite of products and services to support institutional, domestic fixed income trading firms. MarginCalculator.com is a web-based service of Matrix powered by the TradeBlazer fixed-income trading, collateral management, and settlement system. Matrix is a wholly-owned subsidiary of South Street Securities Holdings. For more information, please visit www.MarginCalculator.com.