FitchCDx.com - New Credit Derivatives Tool From Fitch Ratings.Business Editors NEW YORK--(BUSINESS WIRE)--Dec. 5, 2003 Fitch Ratings Fitch Ratings An international rating agency for financial institutions, insurance companies, and corporate, sovereign, and municipal debt. Fitch Ratings has headquarters in New York and London and is wholly owned by FIMALAC of Paris. , the international rating agency, launched today a new tool for credit derivative Credit Derivative Privately held negotiable bilateral contracts that allow users to manage their exposure to credit risk. Credit derivatives are financial assets like forward contracts, swaps, and options for which the price is driven by the credit risk of economic agents (private market participants The term market participant is used in United States constitutional law to describe a U.S. State which is acting as a producer or supplier of a marketable good or service. When a state is acting in such a role, it may permissibly discriminate against non-residents. - FitchCDx.com. FitchCDx.com is an integrated web-platform providing market-oriented, advanced analysis and data for the credit derivatives market -- consolidating all of Fitch Ratings' analysis and research on credit derivatives into one easily accessible site. "Credit Derivatives are one of the fastest growing segments of the fixed income markets. Fitch has dedicated significant analytical resources to this complex market," said Robert Grossman, Chief Credit Officer of Fitch Ratings. "This research platform gives users unique access to a combination of market information and fundamental analysis." Key Features of Fitch CDx.com -- Dynamic list of the Top 100 referenced entities derived from Fitch's proprietary 'Synthetic Index' of rated synthetic CDOs; -- Weekly credit default swap Credit Default Swap A swap designed to transfer the credit exposure of fixed income products between parties. Notes: The buyer of a credit swap receives credit protection, whereas the seller of the swap guarantees the credit worthiness of the product. prices, providing the ability to track and sort global industry 'top movers'; -- Automated reference entity rating news; -- Fitch credit derivative market commentary; -- Fitch CDS Analytic data - recovery and default analysis; and -- Fitch Research and Criteria, including CDO (Collaborative Data Objects) A programming interface from Microsoft for accessing MAPI-based e-mail, calendaring and scheduling servers. Originally called "OLE Messaging" and "Active Messaging," CDO wraps the Enhanced MAPI library into a COM object that provides the performance reports. In the first quarter of 2004, Fitch CDx will also provide users' access to Fitch Ratings new CDO Performance Analytics: -- Fitch generated performance measures for benchmarking; -- Stratification stratification (Lat.,=made in layers), layered structure formed by the deposition of sedimentary rocks. Changes between strata are interpreted as the result of fluctuations in the intensity and persistence of the depositional agent, e.g. graphs comparing original and current portfolio distributions; -- Analytical commentary at deal level; and -- Easy to read graphical display of OC and IC performance tests. For more information about Fitch CDx, please visit www.fitchcdx.com. Fitch CDx - Insight Beyond the Trade. |
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