TP ICAP’s data and analytics division has partnered Credit Benchmark to create a credit proxy solution combining market pricing with Credit Benchmark ratings. Customers will benefit from enhanced price discovery, xVA, trading and risk management capabilities. TP ICAP will provide Credit Benchmark with data from its Tullett Prebon Information business for research into the relationship between real world and risk neutral credit risk.
Ovie Koloko, global head of product development for data and analytics at TP ICAP, says: “There is an opening in this market and we see our existing credit data sales business as a potential area of growth. Credit Benchmark’s business model provides a broader and more timely assessment than traditional rating methods. We plan on developing solutions that assist firms with regulations such as FRTB and the addition of Credit Benchmark’s analytics will enable us to better meet the needs of our clients.”