| Markit Convertible Bonds provides an independent pricing service enabling subscribers to benefit from daily convertible bond pricing. |
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| Product summary: |
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The Markit Convertible Bonds service includes contributions from a group of sell-side market makers. Data quality tests are run against each contribution in order to provide an accurate, reliable data set.
For sell-side customers, Markit requires at least three independent prices on a given instrument before distributing prices for that instrument. While the delta is published as a composite, the credit spread and equity implied volatility are only shown as contributions to those sell-side clients contributing this data.
For buy-side clients, price data is available for all convertibles for which Markit has one or more contributions. Buy-side firms can view the composite delta and contributor level equity implied volatility and credit spread. |
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| Key benefits: |
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| Independent pricing valued by investors |
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| Rigorous data cleaning to ensure only the highest quality data is used in forming composite prices |
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| TRACE data covering secondary market transactions in the US convertible bond market |
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| Flexible access to data via multiple delivery channels, including Markit.com and automated download |
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| Key functions: |
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| Integration with Markit Bond and CDS data |
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| Incorporates standard Industry Classification Benchmark (ICB) sectors |
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| Direct access to Markit analysts for price challenges |
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| Ability to integrate data into internal systems or third party solutions |
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