Deutsche Börse has signed an agreement with Fitch Ratings to deliver low-latency credit rating announcements in machine-readable format via its AlphaFlash algo news feed. The AlphaFlash Fitch Ratings feed will initially provide sovereign debt rating announcements including changes in outlook to users of the exchange service. Other types of credit ratings will be added in the coming months.
Credit actions that will be disseminated via the new Deutsche Börse AlphaFlash Fitch Ratings Feed will comprise upgrades and downgrades, as well as changes in outlook for sovereign debt; a topical subject with the current eurozone crisis. Currently, Fitch sovereign ratings cover over 100 countries around the globe. Other categories such as supranationals, corporates, financial institutions and structured finance will be added in the near future say the partners.
AlphaFlash focuses on delivering market-moving events, such as key macroeconomic indicators, global treasury auctions results and corporate news. AlphaFlash subscribers can choose among several data packages – for example, US, Canadian, European or Asia-Pacific economic indicators, US and global treasury auctions, the Chicago PMI, the Corporate News Germany feed and the new Fitch Ratings feed. AlphaFlash is available in a number of data centres and major financial centres across the globe, including Chicago, Washington, DC, Sao Paulo, Frankfurt, London, Sydney, Tokyo and Singapore.
“The euro debt crisis has brought credit worthiness to the forefront of everyone’s attention,” said Georg Gross, head of front office data and analytics at Deutsche Börse. “By adding Fitch ratings data, we are enabling AlphaFlash clients to instantly react to rating changes, which can have a huge market impact. For example, users can feed our data into their risk management tools and automatically unwind positions that may be exposed when an outlook or a rating deteriorates.”
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