HSBC has signed a three year contract for Mark-it Partners' daily pricing service for credit derivatives and cash credit instruments.
Under the terms of the agreement, HSBC will contribute daily credit pricing data on its global credit and credit derivative swaps. This dataset will increase Mark-it's total coverage to approximately 200,000 daily credit spreads.
Nobby Clark, head, credit derivatives trading, Europe, says Mark-it's pricing service provides greater transparency and liquidity.
HSBC joins twelve other banks delivering credit data to the independent system.