DSTi to offer Markit data to ASP clients
London - DST International (DSTi), a leading provider of business solutions for the financial services industry, today announced that it has enhanced its Risk Management and Performance Measurement Application Service Provider (ASP) service to allow provision of CDS, bond and index pricing data from Markit Group Limited to mutual customers.
Markit Group Limited (Markit) is the leading provider of independent data, portfolio valuations and Over-the-Counter (OTC) derivatives trade processing to the global financial and commodities markets.
DSTi's Risk Management service (formerly known as Askari) offers the calculation of market and credit risk analytics across all asset classes. It provides the market leading solution for historic, parametric, Monte Carlo and deterministic simulation based methodologies for analytic calculation.
DSTi's Performance Measurement service fully supports GIPS standards and offers a highly scalable flexible returns and attribution engine calculating time weighted rate of return, money weighted rate of return, modified BAI and 6 attribution methodologies.
Mark Hunt, Director of Product Development at Markit, commented, "The ASP based model for delivering software and information together is proving very attractive to customers and we are delighted to assist DSTi in providing this service. It will help develop the credit derivatives market further and will have particular appeal to the hedge fund community. The combination of DSTi's products with the independence and quality of Markit's data will provide the calculation environment that clients demand."
John Kirkby, Head of Market Data Systems for DSTi, said, "Our ASP service allows clients to focus on their business rather than application systems or data management. The inclusion of data from Markit into DSTi's ASP, allows our mutual clients to benefit both from this service provision and also the quality and coverage of Markit's data."
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About Markit (www.markit.com)
Markit Group Limited is the leading provider of independent data, portfolio valuations and OTC derivatives trade processing to the global financial and commodities markets. The company receives daily data contributions from over 70 dealing firms, and its services are used by over 600 institutions to enhance trading operations, reduce risk and manage compliance.
Markit's position in the derivatives markets has been acknowledged by the industry with numerous awards. In 2006, the company won Operations Management's Vendor of the Year award (Trade Processing); Financial News' Best Derivatives Data Solution and Best New Vendor Solution (Portfolio Valuations); Credit's Best Operational Support Services Provider; Inside Market Data's Reference Data Provider of the Year, and Company to Watch; Risk's Trading Initiative of the Year (Credit Event Fixings); and Structured Finance International's Editor's Award for Advancing Structured Finance. In 2005, Markit received International Securitisation Report's Editor's Award for Innovation; International Financing Review's Innovation of the Year (Credit Event Fixings); Financial News' Best Derivatives Data Provider; and Operations Management's Vendor of the Year award.
About DST International (DSTi)
With 19 offices and over 1500 professionals to support its growing client base, DST International provides a unique and comprehensive range of investment management and work management software solutions and related services to over 700 clients in 55 countries. For more information, visit www.dstinternational.com
About DST Systems, Inc.
Our parent company, DST Systems, provides sophisticated information processing and computer software services and products that help clients improve productivity, increase efficiencies, and provide higher levels of customer service. DST is organised domestically and internationally into two operating segments: Financial Services and Output Solutions. DST operates one of the most advanced data centres in the world, which provides information-processing services to support the products within each operating segment. These products are further enhanced through the integration of DST's advanced technology and e-commerce solutions.
For more information please contact:
DST International Ltd
Toby Winn
Tel: +44 20 8339 5511
Email: toby.winn@dstintl.com
Markit Group Limited
Teresa Chick
Director, Corporate Communications
Tel: +44 20 7260 2094
Email: teresa.chick@markit.com
© Press Release 2006
