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Clearwater Analytics Selects S&P Capital IQ Pricing and Reference Data

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Clearwater Analytics has selected integrated fixed income evaluated pricing and terms and conditions data from S&P Capital IQ to support the web-based global investment accounting and reporting platform it operates for corporate treasuries, insurance companies, asset managers and custody banks.

The companies started to discuss working together a couple of years ago after S&P Capital IQ explained its integrated approach to pricing and data to Clearwater, which was facing the challenge of providing accurate, transparent, consistent and comprehensive data as it built analysis and back-office reporting tools for its clients. Over the past year, Clearwater has tested S&P Capital IQ’s capability to map the fixed income data into its internal database and analytics platform, reached agreement on data provision with S&P Capital IQ and gone live within the data in internal processing. The expanded analytics service will be made available to Clearwater’s customers from 20 February 2013.

Commenting on the decision to use S&P Capital IQ pricing and reference data, Clearwater director of data management, Dwayne Kreipl, says: “We believe S&P Capital IQ is an accurate and reliable source for fixed income security pricing. Consistent with Clearwater’s overall mission, the data will provide our clients with another source of powerful, accurate and timely pricing.”

Rui Carvalho, managing director of S&P Capital IQ, comments: “Expanding the availability and delivery speed of pricing and descriptive data from S&P Capital IQ through trusted platforms like Clearwater’s is yet another way we are working to improve services to financial professionals who manage investments.”

S&P Capital IQ provides access to pricing and descriptive data for over 3 million fixed income securities and notes increasing market interest in integrated pricing and data accompanied by transparency information around pricing, terms and conditions information and some analysis. Frank Ciccotto, senior vice president of evaluations at S&P Capital IQ, says: “Over the past two years, we have made tremendous progress in integrating our back-end capabilities to deliver front-end solutions for clients. As we pull capabilities and data together we are uncovering opportunities like Clearwater, where clients want transparent, clear, accurate and consistent data they can integrate into their own systems.”

As S&P Capital IQ pulls together its existing offerings to deliver more valuable solutions to market, both through direct client relationships and redistribution agreements, it is also working to develop broader solutions on the basis of the acquisitions it made last year, namely QuantHouse, R2 and CMA.

Meantime, it is extending existing products including the valuations portal it introduced last year. The next release will be available in April and will share more transparency information with clients. For example, a renewed price challenge process will allow users that submit more information to S&P Capital IQ to receive a faster response and more information on the rationale behind the company’s pricing. The portal will also include a new trade comparables module and a user interface designed to push more transparency information to users and better tools to manage the price challenge process.

Back at Clearwater, Ciccotto hopes that the companies’ first agreement on pricing and data is the beginning of a long-term partnership.

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