Standard & Poor’s has acquired Imake Consulting, a provider of software and services to the structured finance market, and ABSXchange, an end-to-end solution provider for structured finance data, analytics and modelling. S&P is aiming improve its ability to analyse structured finance transactions including residential mortgage-backed securities, commercial mortgage-backed securities, asset-based securities and collateralised debt obligations.
Standard & Poor’s has already been using Imake and ABSXchange tools, analytics and data in its structured finance surveillance, according to David Guarino, spokesperson for indices, hedge funds and mutual funds at Standard & Poor’s. “The ability to bring these offerings inhouse will allow us to expand our suite of end-to-end solutions for the structured finance market,” he adds.
Imake Consulting has been providing data, analytics and modelling software and services to the structured finance community since 1991. Its product, Analytics-on-Demand, is both an internet-based and client network-enabled analytical tool providing a solution for analysing and valuing structured finance transactions. Imake’s software is used by Standard & Poor’s in Europe.
ABSXchange provides a solution for structured finance data, analytics and modelling. Its product, @Investors Connection, is a web portal providing data, reporting and cash flow analysis to the structured finance market.
“Imake currently targets heavier users in the US, like issuers, investment banks, ratings agencies, trustees and accounting firms,” says Guarino. “ABSXchange currently targets lighter users in Europe, including investors and traders. Imake and ABSXchange’s tools, analytics and data, combined with Standard & Poor’s own suite of offerings, will provide an even more robust offering to the structured finance market.”
In the long run, Standard & Poor’s believes, the significant growth of the structured finance market will continue to drive demand for the software, services and solutions Imake and ABSXchange currently provide, meeting requirements for the flexibility of a single system to model across the structure.