March 25, 2013
Thomson Reuters Fills Data Gap for China's Credit Market with Exclusive Content for Chinese Non-listed Entities on Thomson Reuters Eikon
LONDON, BEIJING - Thomson Reuters, the world's leading source of intelligent information for businesses and professionals, today announced it has launched StarMine Default Probabilities (DPs), to include exclusive default probabilities content for Chinese non-listed entities, on its flagship financial markets desktop, Thomson Reuters Eikon. This move has filled the gap in China’s credit market for non-listed entities. Now financial professionals can better calculate credit risks for non-listed entities and make better investment decisions.
Thomson Reuters data shows that the volume of credit bond issuance in mainland China has reached approximately CNY 3,800 billion (US$ 612 bn), among which more than 50% was issued by non-listed entities. The StarMine Structural Credit Risk (SCR) Model requires a stock price as an input, and therefore is not available for non-listed entities. With the unique Thomson Reuters Smart Ratios (SMCR) model relying on key financial ratios rather than a stock price, this allows StarMine to be able to calculate DPs and implied ratings for non-listed entities where company fundamental reports are available, to help evaluate the target companies.
StarMine DPs are now available for over 870 China non-listed entities with some company histories dating back to 2001. StarMine DP coverage for China has now increased by a third to nearly 3500 issuers. Clients can gain access to implied ratings for almost 3500 entities and evaluate non-listed entities default probabilities.
StarMine Default Probabilities currently offers non-listed entities data only for the China market, which reflects Thomson Reuters focus on China and its financial markets. Listed entities data is available for all the other markets.
“Thomson Reuters has a long history and rich experience in the financial markets both globally and in China,” said Massimo Di Gregorio, Managing Director, Thomson Reuters China, “We’re proud to provide China and global financial professionals with key news and information, advanced analytics tools and access to global communities via an easy-to-use one-stop financial markets desktop.”
In June 2012, the Chinese version Thomson Reuters Eikon launched to meet the needs of China’s rapidly developing financial marketplace. Thomson Reuters Eikon is being used and has received positive client feedback by key global and domestic financial institutions, including the European Central Bank and dozens of national central banks.
Thomson Reuters Eikon is designed to provide a powerful and intuitive next-generation solution for consuming real-time and historical data, connecting with the financial markets community and executing financial markets transactions across asset classes such as foreign exchange (FX), fixed income, commodities, equities and derivatives. It realizes Thomson Reuters vision for a financial markets desktop that is intelligent, simple and social. Driven by powerful search engine technology, Eikon carries real-time data, news, charts, insightful commentary, analytics and trade execution tools through views that can be customized to individual user preferences and workflow. Based on open standards, it is powered by Thomson Reuters Elektron, the Company’s low latency data and trading infrastructure.
Thomson Reuters is the world's leading source of intelligent information for businesses and professionals. We combine industry expertise with innovative technology to deliver critical information to leading decision makers in the financial and risk, legal, tax and accounting, intellectual property and science and media markets, powered by the world's most trusted news organization. With headquarters in New York and major operations in London and Eagan, Minnesota, Thomson Reuters employs approximately 60,000 people and operates in over 100 countries. Thomson Reuters shares are listed on the Toronto and New York Stock Exchanges. For more information, go to: http://thomsonreuters.com
Thomson Reuters provides equities and credit based alpha and risk factors for investment managers as well as corporate investor relations teams. Thomson Reuters has long been known for its enhanced sell-side forecasts; one example is StarMine SmartEstimates, which predict the direction of earnings surprises with a success rate of around 70% when the SmartEstimate significantly differs from the consensus estimate. The StarMine Text Mining Credit Risk model sits alongside the StarMine Structural Credit Risk model and the StarMine SmartRatios Credit Risk Model, both form part of StarMine’s credit risk offering