Loans

Markit, a leading global financial information services company, today announced it has agreed to acquire ClearPar from FIS.  ClearPar is an automated syndicated loan operations platform used for the settlement of par and distressed loan trades in the U.S. and Europe.

Algorithmics, the world’s leading provider of risk solutions, today announced that it has received a patent for technology that enables financial institutions to derive fair-market values for their loans and other credit related instruments using techniques designed to improve accuracy and transparency relative to current industry approaches. The technology will help banks structure, price, value, simulate and subsequently risk manage their complex loan portfolios in a manner consistent with current capital markets concepts.

Markit and Creditex, in partnership with six major credit derivative dealers, todayannounced the results of a Credit Event Auction conducted to facilitate settlement of loan-only creditdefault swap (LCDS) trades referencing Ferretti first lien loans.

At 10.30 GMT today, the final price for Ferretti first lien loans for the purpose of settling LCDS transactions was determined to be 10.875%. Sellers of Ferretti first lien LCDS protection willtherefore need to pay 89.125% of the amount of protection they sold.