在一个Q里&带派生源的A, 蒂姆·林德, Managing Director of 存 数据服务, shares an update on the recently enhanced cd动力学 Platform from The Depository Trust & 结算公司(存), which aims to increase transparency into the Credit Default Swaps Market through the provision of data and metrics on notional outstanding, net notional and trading volumes as well as analytical functionality.
DS: The new cd动力学 platform sources the data on the credit default swaps market from the 存’s Trade Information Warehouse (TIW) to provide to market participants. Can you firstly tell us briefly what data is provided from the platform?
TL: cd动力学 offers access to the largest consolidated set of global credit default swap (CDS) data, providing an in-depth understanding of liquidity and transparency of CDS on indexes, 企业, 主权, 部分, 机构, 市政, 和贷款. The service offers weekly stock and volume reports including detail on global CDS contract activity as well as historical data.
DS: What was the catalyst or motivation to launch this platform now? Was the market volatility experienced in March 2020 a catalyst, for instance?
TL: The cd动力学 service was initially launched in 2017 and now has been enhanced to deliver new insights into notional outstanding, net notional and trading volume metrics along with enhanced analytics and user interface capabilities. The unique insights the platform offers on credit risk will not only inform trading strategies but will also help banks better prepare for potential market dislocations. 现在比以往任何时候都重要, it’s critical for firms to begin drawing upon more robust and higher-quality data sources to heighten their risk preparedness and response, as well as their overall business resilience.
DS: In addition to individual market participants and firms, is there a market-wide benefit from having access to this data and thus the transparency into the market that it provides?
TL: There are benefits of generating this data for the wider industry. 公司, 保险公司, 学术机构, fintech providers and regulators are all users who can analyze this data for a variety of different use cases, including credit analysis and for sentiment models as it relates to specific issuers.
DS: How will derivatives market participants utilize this data to better mitigate market and credit risks and inform trading strategies? Examples would be great.
TL: Market participants use this data as an input into fundamental analysis, 系统交易, 关联交易, 宏观经济研究, and transparency into the liquidity of CDS positions in indexes, 队, 主权, 部分, 机构, 市政, 和贷款.
DS: How will users access this new platform?
TL: 客户端s can discover more about cd动力学 data by visiting dtccdata.com. 客户端s can also access the service via a number of delivery options including SFTP, API and an enhanced web portal.
DS: Is this platform live now for all to use?
TL:是的. The platform is live with participation from both buy-side and sell-side firms.
This article first appeared in DerivSource 2021年8月5日.