Investors and traders in mortgage-backed securities that find dealing with Fannie, Freddie and Ginnie analytic data tapes costly and inconvenient may eliminate some difficulty through a new high-speed data transfer subscriber service.
Through its T-1 high-speed transmission link, the Asset Backed Securities Group, a New York-based financial information and analytical software service agency, now provides MBS data on all available data tapes from Fannie Mae, Freddie Mac and Ginnie Mae via modem.
The T-1 system provides the tape data at the fastest modem speed available, a process that ensures that prompt delivery of timely information on items like prepayment-sensitive securities. But while being fast is a major consideration for ABSG customers, the group has also added a few twists to help uncomplicate the data tape process.
One such twist allows the agency to provide the information automatically overnight without the need for an on-site night-time operator. Customers used to receiving data tapes at virtually any hour will now have access to that information when they arrive at work in the morning, the agency said.
Another nuance is that ABSG can also generate information customized for a customer's specific needs, whether it's tracking prepayment speeds for different collateralized mortgage obligations or figuring yields and spreads for other MBS.
The information is provided through a dedicated point-to-point link from provider to the receiver using Ethernet protocols. The transmission speed through the T-1 link is 5 megabytes per minute, 24 times faster than a 56-kilobyte circuit, the agency said. The largest file available--Freddie Mac's data tape estimated at 100 kilobytes--can be delivered in just 20 minutes.
The information can be delivered to personal computers, mainframes, minicomputers or work stations in a variety of formats. For organizations unable to support the speeds provided by the T-1 system, ABSG also provides the information in the standard 9600-baud format.
Traders use the MBS disclosure data for trading analytics and operations, as well as projecting incoming cash and settlement trades. ABSG, like Mortgage Marketplace, is owned by The Thomson Corp.