The Principia Systemâs flexible analytic framework has enabled credit derivatives users to price and risk manage products using a variety of available market data. "Integration with Markitâs data enables us to deliver a more robust, turnkey credit derivatives platform to a wider user base, helping us to provide a comprehensive solution to users who require third-party contributed data sources," states Dr. Douglas Long, Product Marketing Director at Principia Partners. Principia serves a wide range of customers in the insurance, fund management, banking and structured finance markets with its leading trade lifecycle management solutions for a broad host of financial instruments, ranging from vanilla to highly structured.
"Markitâs broad asset coverage and reference data is a good fit with the Principia lifecycle management solutions," said Mark Hunt, Director of Product Development at Markit. "As customers increase their exposure to credit derivatives they will benefit from our partnership through enhanced STP, reduced operational costs and an improved regulatory environment and risk profile."
The integration of Markitâs data further enhances Principiaâs commitment to delivering key market data for the broad array of asset classes that the system manages, which include credit derivatives, cash securities, ABS/MBS, and FX. The ability to provide accurate and consistent data is a major component of the companyâs mission to provide a comprehensive end-to-end solution that can flexibly serve multiple market segments.