Deutsche Bank, Goldman Sachs and JPMorgan are negotiating the sale of their credit derivatives reference entity database, Red, to UK credit risk data company Mark-it Partners. Red acts as an electronic Domesday Book, cataloguing the legal existence of reference entities to ensure that both sides of a transaction can verify precisely which reference credit they are trading on. It was initially intended to be a non-profit project.
JPMorgan declined to comment on the reason for the sale, other than
The week on Risk.net, July 7-13, 2018Receive this by email