UBS Warburg plans to expand its credit derivatives Web site to increase the transparency of basket swaps and synthetic collateralized debt obligation tranches. Alberto Thomas, director in London, said it plans to allow clients to download documentation and monitor transactions from July and will add a relative pricing guide and more sophisticated structuring tools in September. At the moment clients can structure and rate baskets of up to 50 names.
Although the credit rating provided on the Web site is only indicative, Thomas said it uses the same methodology as Moody's and the rating agency has agreed to provide an official rating within 48 hours. The site is aimed at large end users, such as insurance companies and asset managers, who place a high importance on credit ratings.
