NEWS
October 10, 2007
BQuotes initiates coverage of LCDX Tranches
BQuotes, the leading provider of price discovery software for the Over The Counter ("OTC") markets, announced today that it started providing coverage for LCDX Tranches in its real-time price-discovery and end-of-day data platforms. LCDX tranches started trading today, and have been eagerly anticipated in the markets.
"Consistent with our commitment we initiated coverage of LCDX tranches on the first day of trading; this is the strongest statement we can make about our turn-around time on delivering new products, and it translates to a tangible market advantage for our customers", commented Yiannis Tsiounis, Ph.D., President and CEO of BQuotes.
LCDX tranches are set to significantly increase the liquidity of the market for bespoke tranches of LCDS portfolios, according to Barclays Capital, and 12 of the major 14 dealers have committed to making markets in these new instruments.
BQuotes' scalable price-discovery technology and centralized update capabilities enabled it to build recognition algorithms and roll them out to all its customers in less than a day.
BQuotes' experience with delivering new products has set it apart in the race to price-discovery. A subset of the available OTC products are CDS, LCDS, CDX, ITRAXX, ABX, TABX, tranches, corporate bonds, convertible bonds, CMBX, LevX, ABS, MBS, CMBS, Variance Swaps, ELS, recovery swaps, rolls, and more.
About BQuotes
BQuotes extracts price quotes from emails of any format with its real-time price discovery software ("BestQuotes™") in a variety of Over The Counter asset classes, such as CDSs, corporate Bonds, convertible bonds, Loan CDSs, Tranches, Variance Swaps, Options and ABSs, and provides closing, mark-to-market data ("BestData™") for the OTC markets. Thousands of market participants are finding BestQuotes™ an invaluable tool in navigating the OTC markets, monitoring their risk in real time using true market prices, and increasing their trading effectiveness.
BestData™, delivered at 5:30pm EST, solves the problems of having to wait until the next business day for mark-to-market data and of lack of coverage for certain very important markets, including convertible bond closing data, Loan CDS, ABX, TABX and tranches. The fact that the closing data can be delivered in a variety of interfaces, from Excel to ftp to a customized GUI, negates the need for any integration and frees BQuotes clients to focus on their core skills.
Founded in 2004, BQuotes is now serving thousands of market participants across leading investment banks, money management firms and hedge fund firms such as Highbridge, Angelo Gordon and Royal Bank of Scotland.
BQuotes can be contacted at:
US: +1 212 488 4999
UK: +44 (0) 207 096 1128
Asia-Pac: +61 7 3394 8431
