Standard & Poor’s Index Services has selected Interactive Data’s Pricing and Reference Data business to provide daily independent evaluations of commercial paper issues for its recently launched S&P US Commercial Paper Index. Interactive Data’s offering was selected because it provided coverage for the comprehensive collection of securities which comprise the index, says James Rieger, vice president of Fixed Income Indices at S&P.
The S&P U.S. Commercial Paper Index is a new, broad based index designed to serve the investment community’s need for a benchmark representing the US commercial paper market, says the vendor. As part of the deal, Interactive Data now delivers daily, independent evaluations for more than 3,000 commercial paper issues to S&P for its use in valuing the index.
Rieger says the index is aimed at providing a broad benchmark for measuring the performance of and providing additional transparency into this market.