Mark-it Signs Up 16 Credit Derivatives Houses

DATA CONSUMERS

UK credit data company Mark-it Partners announced last week that it has signed up 16 of the largest credit derivatives houses to use its credit reference entity database, Red.

The 16 banks, including JP Morgan Chase, Citigroup and Deutsche Bank, have agreed to use the reference entity database for a minimum of three years. Red confirms a reference entity’s legal name and its relationship in a pair to a reference obligation.

It helps eliminate legal uncertainty in credit derivatives contracts