Interdealer broker and provider of post trade and information services ICAP has launched a joint credit derivatives rating service with Rapid Ratings, an alternative rating, research and analytics firm.
The new product brings together two independent sources of information to deliver a unique view of the credit derivatives market.
“Partnering with ICAP for this unique view of the credit market will provide transparency and intelligence for financial market participants who require independent sources of data for valuations, as well as regulatory, accounting and risk management purposes,” says James Gellert, chairman and chief executive of Rapid Ratings.
Kevin Taylor, global head of ICAP Information Services, says: “In an environment where there is a demand for greater transparency and accuracy, our new service will provide an independent credit pricing solution to financial market participants. This partnership with another provider of unique, independent data shows our continued commitment in expanding our product offering with varied and innovative new solutions that are exclusive to ICAP.”