ICICI takes Markit's CDS data
ICICI Bank, India's second-largest bank with assets of more than $79 billion, has signed up to Markit's credit default swap pricing service. UK-based data provider Markit offers mark-to-market CDS prices drawn from daily price contributions from 85 dealers. "Markit's CDS pricing will provide ICICI Bank with independent price verification of our trading books across the 500 credits that we track," says Singapore-based Suvek Nambiar, head of Asia at ICICI. Markit will target more Indian banks to
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