UBS Warburg plans to increase the functionality of its CreditProfile application – a Web-based tool that allows investors to risk manage, structure and get an accurate ratings estimate for bespoke nth-to-default credit baskets (where an investor can tailor its credit exposure within a basket of names). The firm structured 90% of rated nth-to-default basket volumes in 2001, according to Moody’s Investors Service, and is upgrading CreditProfile to try to maintain its edge over rival dealers.
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