Trepp and Markit Expand Relationship to Bring Greater Transparency and Accuracy to Synthetic CMBS Market

New York, NY, January 18, 2008 --(PR.com)-- Trepp LLC, the leading provider of CMBS and commercial mortgage information, analytics and technology and Markit, the leading provider of independent data, portfolio valuations and OTC derivatives trade processing to the global financial markets, today announced a partnership that will bring greater transparency and accuracy to the valuation of synthetic Commercial Mortgage-Backed Securities (CMBS).

The agreement will integrate Markit’s valuation input template into TreppDerivative™, Trepp’s analytics and surveillance product for CMBS derivatives. The relationship will allow joint clients to manage their pricing processes for synthetic CMBS contracts more efficiently. Valuations analytics for the Markit CMBX, a synthetic index of U.S. CMBS, have incorporated Trepp’s cashflows since the launch of the index in 2006.

“We value Trepp’s CMBS expertise which contributes significantly to the CMBX calculator we offer the trading community,” said Ben Logan, Managing Director of Structured Finance at Markit. “Accurate valuations of complex products are critical in today’s markets and we believe that our enhanced tool will provide clients with unique insight into the valuation of synthetic CMBS.”

Subscribers to this service will be able to export their contract terms and conditions compiled within the TreppDerivative™ product to Markit for valuation. This single interface for analytics, cashflows and valuations will streamline the process for the end-user significantly and will result in greater efficiency and accuracy of trade input.

“Markit has an established reputation for bringing breadth and quality of product to the market and Trepp is very pleased to build on our long-standing relationship,” said Dan Gottlieb, Chief Operating Officer at Trepp. “The biggest challenges in the current CDS space are removing operational risk and obtaining accurate valuations. This partnership does that. With TreppDerivative, all the functions that the cash market has come to expect are now available to CDS investors...integration of risk management with back office and trading, cashflows, surveillance tools.”

About Trepp, LLC

Trepp, LLC is the leading provider of commercial real estate finance information, analytics and technology to the securities and investment management industry. Their extensive deal coverage includes North American, European and Asian CMBS as well as Commercial Real Estate backed CDOs. The industry’s largest broker dealers, originators, commercial banks and institutional investors rely on Trepp's suite of products for trading, risk management, and surveillance. Headquartered in New York City with offices and representation in London and Shanghai, Trepp’s expanding global product reach continues to increase information transparency and provide best-in-class solutions to over 400 clients worldwide.

About Markit

Markit Group Limited is the leading provider of independent data, portfolio valuations and OTC derivatives trade processing to the global financial markets. The company receives daily data contributions from 90 dealing firms, and its services are used by almost 1,000 institutions to enhance trading operations, reduce risk and manage compliance.

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