Bloomberg Adds Data from Credit Benchmark
Bloomberg announced that it will make Credit Benchmark’s credit risk data—derived from the risk views of the world’s largest financial institutions–available on the Bloomberg Terminal, and also for clients to license the data for an enterprise use case. The company will make this unique anonymized consensus data available alongside existing credit risk datasets and risk indicators, providing complementary content to help market participants assess the credit quality or risk of default of a counterparty, company or entity, all integrated within their existing workflows.
As the current global economic crisis has illustrated, market participants need readily accessible, timely and transparent data to support active credit assessments and predictive models in fast-moving, volatile markets. Firms are increasingly seeking independent data to validate their own internal counterparty and credit risk assessment and to supplement external ratings data from traditional ratings agencies. The ease of access to Credit Benchmark data over the Bloomberg Terminal can help support risk management, loan and debt underwriting, portfolio optimization, supply chain risk management, investment idea generation, and as a means of assessing ongoing credit quality.
“The broad coverage provided by Credit Benchmark will allow for easier credit assessment of non-rated companies, as well as provide a complementary point of information to existing analytics on the Bloomberg Terminal,” said Mark Flatman, Global Head of Core Product at Bloomberg. “As the data will be available in all of our workflow tools, it can easily be incorporated as an additional input to the decision process.”
Donal Smith, Co-founder and Chairman at Credit Benchmark, added: “In the current market environment our consensus view of credit quality has been a vital source of insight on where lenders see the biggest risks. We’re excited to be working with Bloomberg to expand availability of this intelligence to additional market participants.”
Mark Faulkner, Co-founder at Credit Benchmark, commented: “Teaming up with Bloomberg offers a welcome opportunity to provide much-needed credit transparency in areas such as securities finance, client onboarding, and supply chain risk management.”
In addition to certain consensus data that will be made available to all Bloomberg Terminal subscribers at no additional charge, Bloomberg will offer a premium Credit Benchmark service that provides more granular data for analysis. This premium offering can be delivered over the Bloomberg Terminal (for desktop use), and can also be delivered as a machine-ready data file for enterprise-wide use through Bloomberg’s Enterprise Data service.
Fintech Nivaura helped develop Flow which provides end-to-end automation in primary debt markets.
Technology will advance trading relationships with minority-, women- and veteran-owned broker-dealers.
The European Union has transformed into a market bellwether.
Average daily volume was $1.06 trillion for the first quarter.
European Investment Bank believes the digitalization of capital markets will benefit market participants.