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Exchange Data International
Based in United Kingdom
Exchange Data International
With EDI you get high quality, affordable financial data customized to precisely fit your operational requirements.
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New Change FX
Based in United Kingdom
New Change FX
New Change FX is an award winning fintech company. We are an official regulated Benchmark Administrator. We specialise in delivering price transparency t...
ESMA/FCA Regulated Benchmarks
50 M/s
Per Currency/FX Benchmarks
1.728 Mio
Per Day / Currency Pair - ISIN2LEI profile banner
Based in Netherlands
ISIN2LEI is a RegTech start-up founded in 2018 by Johan Hol. We went officially live on September 1st, 2018 and provide linked open data on Legal Entity ... - Cbonds profile banner
Based in Russia
Cbonds is a global data provider with the main focus on the fixed income market. Founded in 2000, the agency has gained a reputation as a respected and compe... - Stamdata profile banner
Based in Norway
The Nordic bond markets are our main expertise and where we have spent the last 20 years focusing on bonds and other fixed income instruments. We provide our...
Operational Risk
Based in Switzerland
SIX is a data provider offering Core Financial Data, Corporate Actions Data, Fund Data, Proprietary Market Data, and 3 others. They are headquartered in Swit...

The Ultimate Guide to Reference Data 2021

Learn about reference data analytics, sources, and collection.

What is Reference Data?

Also referred to as a reference entity, a reference obligation, or a covered obligation, is a fundamental asset that finds applications in credit derivatives as a way to cushion a debt holder from risky borrowers. Referenced assets are usually in the form of bonds, treasury notes, or any other debt-supporting collaterals that are stated by borrowers. The notion behind references is that when a given private individual or a business entity issues debt or borrows money, more often than not, there is a chance that they could default on the debt. As such, to cushion lenders against this default risk, a lender may enter into a credit derivative arrangement to assign the risk of default to a third party.

How is Reference Data collected?

Reference asset data can be collected either manually through the assessment of the core elements of the asset by looking at the available business entity books. In this case, the data can be documented by the interested party and assessed at the time of collection before any credit transaction is initiated. Furthermore, interested parties can draw a company’s asset data from fiscal financial reports that are usually published by the business entity at the end of every financial trading period. Fiscal reports usually give information about all the assets that a business may own at the end of every financial year.

What are the attributes of Reference Data?

Given how reference asset data works, the bottom line is that debt holders are at risk of the borrower failing to meet the obligations of paying an advanced debt. As such, as a hedging tool to protect these debt holders from default risk, they may enter into a credit derivative in which a third party is assigned the risk of default either by total return or credit default swap (CDS). These credit derivative entities of total return and credit default swap forms the key attributes of reference asset data.

Total return refers to the precise rate of return of a given asset or investment advanced by a borrower within a given period. Some of the returns that can be gained from an asset or investment may include capital gains, dividends, and distribution that are gained during a given time. Credit default swap (CDS) refers to a reference asset data derivative that allows an investor to exchange his or her credit risk with that of another investor.

What are the uses of Reference Data?

Reference data is an important component source of information that can help a debt holder to protect themselves against the potential risk of a defaulted loan. This data gives the lender more insight about the risk of default to a third party, hence informing themselves about possible losses. Reference asset data is an important underlying component of credit derivatives which are confidentially held consensual contracts between parties in a credit/debtor relationship.

Reference asset data also gives lenders an overview of financial product information about a given asset such as the security’s asset type, its symbolic pointers, and time-sensitive data such as the date of maturity of the underlying asset before its use as a credit derivative. This information is crucial in assessing the value of the asset before a third party agrees to carry the weight of a potential defaulter.

How can a user assess the quality of Reference Data?

As one of the fundamental components of credit derivatives, a reference asset is security. The quality of this security can be assessed by highlighting the components of its validity at the time when the transaction of risk transfer is taking place. Timeliness is the most critical element of a reference asset dataset. It’s vital to have up-to-date reference data, because any discrepancy in this time factor may mean that the individual or business entity’s creditworthiness may have changed during the advancement of a loan. Furthermore, in assessing the quality of reference assets data, a user should consider the reference data provider’s track record in terms of operation, market, reputation, strategy, and compliance risk. Reader reviews for reference data providers will help you find the best reference data feeds for your use case.

Who are the best Reference Data providers?

Finding the right Reference Data provider for you really depends on your unique use case and data requirements, including budget and geographical coverage. Popular Reference Data providers that you might want to buy Reference Data from are Exchange Data International, New Change FX, ISIN2LEI, Cbonds, and Stamdata.

Where can I buy Reference Data?

Data providers and vendors listed on Datarade sell Reference Data products and samples. Popular Reference Data products and datasets available on our platform are NCFX Spot FX Reference Rates - Live Forex Data, Global Coverage by New Change FX, EDI Reference Data Mutual Funds USA (28k Mutual Funds covered) by Exchange Data International, and Reference bond data API, global coverage, 600K issues by Cbonds.

How can I get Reference Data?

You can get Reference Data via a range of delivery methods - the right one for you depends on your use case. For example, historical Reference Data is usually available to download in bulk and delivered using an S3 bucket. On the other hand, if your use case is time-critical, you can buy real-time Reference Data APIs, feeds and streams to download the most up-to-date intelligence.

What are similar data types to Reference Data?

Reference Data is similar to Stock Market Data, Alternative Data, ESG Data, Merger & Acquisition Data, and Proprietary Market Data. These data categories are commonly used for Stock Market Predictions and Investment Management.

What are the most common use cases for Reference Data?

The top use cases for Reference Data are Stock Market Predictions and Investment Management.