Mark-it appealing to funds
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LONDON -- Pricing credit accurately has always been one of the thorniest challenges facing institutions that trade credit products. So much so that when a small core of credit specialists established Mark-it Partners in 2001, TD Securities jumped at the opportunity to fund the project. The concept was simple: convince the top-tier investment banks to submit all their end-of-day credit positions, aggregate that data overnight into a series of ‘industry benchmarks’ and then sell it back to them
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