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Deloitte Adds Support to CDO Suite for Loan/SERV PlatformFacilitates client use of DTCC’s Loan/SERV reconciliation service for syndicated loans |
NEW YORK, July 1, 2009 — Deloitte released an enhanced version of its CDO Suite product, an asset administration, compliance, and reporting system designed to support a number of portfolio structures including hedge funds and collateralized debt obligations, which can help agent banks, lenders, and investors track, view, and reconcile loan positions.
The new version of CDO Suite supports the data format guidelines from The Depository Trust & Clearing Corporation’s loan commitment position reconciliation service. The software helps Deloitte’s CDO Suite clients automate syndicated loan processing and allows users to generate the data files needed in order to post their loan positions to DTCC’s reconcilement service.
“Improving operational efficiency and data accuracy in the syndicated loan market are key issues for market participants,” said Hillel Caplan, a partner with Deloitte & Touche LLP’s securitization services group in New York and the leader of its CDO Suite practice. “We have therefore added support for DTCC’s Loan/SERV data format guidelines to CDO Suite as a convenience for our clients, and in response to client requests asking us to incorporate this feature into our product.”
Caplan noted that in addition to adding support for the DTCC Loan/SERV platform, Deloitte recently introduced a patent pending loan transaction data feed for CDO Suite (see http://www.deloitte.com/us/loandata) and is also a participant in a financial products mark-up language syndicated loan working group that is working to establish a common electronic data exchange format for agent-lender communications.
CDO Suite includes detailed tracking capabilities for portfolios/funds that invest in a variety of asset classes including asset-backed securities, bonds, credit default swaps, middle market loans, and syndicated loans and can be used to perform scenario analysis around hypothetical trades and changes in collateral characteristics. It also offers functionality for administrative agents, business development companies, and other loan originators.
For additional information about CDO Suite, please visit Deloitte’s Web site: www.deloitte.com/us/cdosuite
About Deloitte
As used in this document, “Deloitte” means Deloitte & Touche LLP and Deloitte Services LP, separate subsidiaries of Deloitte LLP. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries.
“CDO Suite” is a trademark of Deloitte Development LLC, a subsidiary of Deloitte LLP, and is licensed to clients by Deloitte & Touche Products Company LLC, a subsidiary of Deloitte & Touche LLP.
“Loan/SERV” is a service offering of DTCC Solutions LLC, a wholly owned subsidiary of DTCC, and is not affiliated with Deloitte. This news release does not constitute an endorsement of CDO Suite or Deloitte on the part of DTCC or any of its subsidiaries or affiliates.