Trading Services. (Technology Tools).GFInet, a leading creator of independent online markets, has brought out its 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. Mark-To-Market (MTM MTM Medication Therapy Management MTM Minutes to Midnight (Linkin Park album) MTM Mary Tyler Moore (actress) MTM Made to Measure MTM Motoren-Technik-Mayer MTM Methods Time Measurement ) service, making GFI's actual market price data available to the "mid-office" -- a layer between the trader and the back-end settlement systems -- for the first time. The prices are provided directly from GFI's global credit derivatives 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 brokerage desks and represent the actual levels at which market participants are willing to trade. "The service has been in beta testing (programming) beta testing - Testing a pre-release (potentially unreliable) version of a piece of software by making it available to selected users. This term derives from early 1960s terminology for product cycle checkpoints, first used at IBM but later standard throughout the with 12 top dealers for several months," said Jeffrey Tober, head of credit derivatives at New York-based GFInet. "To date, default swap price information has been difficult to obtain, especially for product controllers and risk managers. Our goal is to bring greater transparency to the market." GFI GFI Ground Fault Interrupter GFI Go For It GFI Government-Furnished Information GFI Growing Families International GFI Goodness of Fit Indices GFI Government Financial Institutions (Philippines) GFI Gross Farm Income plans to market the product to all participants in the credit derivatives market, from the largest global institutions to corporations just starting to use default swaps. Mark-to-market prices can be delivered via a secure browser connection and fed directly into mid-office systems. The service is customizable, enabling subscribers to create and configure lists, thereby accessing only the information relevant to them. The service is based on GFI's database, with more than 250,000 default swap rates covering more than 1,500 reference credits, 500 of which are actively traded in any given month. |
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