Creditex updates PriceTracker

New-York based provider of credit derivatives data and trading service Creditex has released a new version of its PriceTracker pricing service that covers new sectors and search criteria. Creditex will also add Standard & Poor’s credit ratings to the product by the end of this month.

PriceTracker retrieves real-time and historical data upon request and delivers it to users over the internet. The new version features new tools such as 'Big Movers', 'Rating Deviation' and 'Recent Price Data’.

Big Movers will allow users to see which derivatives spreads fluctuated the most in the market during a particular day, week, month or other time period. Rating Deviation will track securities with the largest deviation from the average spread for that name’s rating. Recent Prices Data enables subscribers to view credit default swap prices posted within the last few days from the time they last logged onto PriceTracker.

The upgrade also offers additional graphing capabilities and is aimed at being more user-friendly, said Andrea Danese, chief operating officer at Creditex.

PriceTracker will also offer portfolio functionality – users will be able to create a portfolio by choosing security names, which will then be imported into a spreadsheet of debt, Moody’s ratings, bid, trade and offer data. Users will also be able to create multiple portfolios.

Within the last two months, more than 50 financial services firms subscribed to the service. Creditex’s clients consist of bank controllers, risk managers and research equity firms.

Danese said broker GFI, which also offers a credit data service, was his main competitor.