A new reporting and analytics platform for securitisation issues, including covered bonds, has been launched for the Australian market.
Oliver Wyman, Perpetual and Morgij Analytics have launched MARQ Services, a platform that provides standardised data, reporting and analytics for the Australian residential-mortgage-backed-securities (RMBS) and covered bond markets.
Where ratings agencies analyse debt, the MARQ system is an alternative methodology that looks at both the individual and collective mortgages comprising the underlying collateral in any securitisation deal.
The system allows users to look at various tranches of a securitisation deal in terms of geographical areas, loan defaults and types of loans – investment or owner occupied – to deliver greater transparency and inform the risk management process.
“Investors need to be able to supplement ratings grades with high quality loan-level data to understand the underling collateral,” said David Howard-Jones, partner at Oliver Wyman.
“With this new service, we hope we can provide a valuable piece of market infrastructure and much-needed transparency for the RMBS and covered bonds markets.”
MARQ Services will be maintained and delivered by MARQ Australia Trust, which will be administered by a board chaired by former Commonwealth Bank of Australia chief executive and Future Fund chairman, David Murray.