# The complex life

## Reference Data

Investors are trading an increasingly varied and extensive set of securities in their search for yield. With the developments in financial engineering, new markets such as credit derivatives growing rapidly, and investors increasingly willing to take leverage to bolster returns, the use of complex instruments has surged. The challenge is obtaining independent, valid price information in these markets. At the same time, regularly valuing portfolios containing less liquid instruments can present considerable difficulties.

Traditional data sources have not typically covered complex instruments such as synthetic collateralised debt obligations (CDOs). However, established data vendors and new entrants are now developing fresh sources of information to provide customers with data on these securities. Meanwhile, those providing portfolio valuation services are extending their range, often in alliance with specialist pricing companies.

#### 7 days in 60 seconds

###### XVA, variation margin and the Mifir deadline

The week on Risk.net, February 17-23 2017