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- Overview
- Valuations
- Fixed Income Research Tools
- Fixed Income Data Services
- Customised Research
Our offerings include
Valuations
We offer valuations of government securities, state development loans, T-bills, STRIPS, corporate bonds, and money market instruments. We also provide bond matrices, intraday valuations, customised valuations and market linked debentures valuations.
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Fixed Income Research Tools
Our fixed income research tool - Bond Valuer, is the most widely accepted bond valuation tool. It is used by asset management companies, insurance companies, and pension funds in India. The other tools we offer are CRISIL Aggregator and CRISIL Rating Tracker.
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Fixed Income Data Services
We have a comprehensive database of fixed income instruments with over 18,000 securities. Our Rating Updates track rating changes on fixed income instruments at a security level from all five rating agencies.
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We leverage our experience in valuations, benchmarking, and data analytics for providing customised research. The reports include data and analysis, covering different aspects of the fixed income market to suit client requirements.
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- Press Release October 17, 2023 India’s infrastructure spending to double to Rs 143 lakh crore between fiscals 2024 and 2030, compared with 2017-2023
We provide security level valuation of government securities, state development loans, T-bills, STRIPS, corporate bonds, and money market instruments like commercial papers, certificate of deposit and bill re-discounting scheme. We also provides bond matrices, intraday valuations, customised valuations, and market linked debentures valuations.
CRISIL Security Valuation
CRISIL Security Level Valuation of SLR securities
CRISIL provides valuation for all outstanding dated Governmentsecurities, Treasury bills, State Development Loans, and STRIPS on a dailybasis.
The coverage includes:
- All Central Government Securities (G-Secs) including IIB,FRBs and surrogates such as oil and fertilizer bonds.
- All State Development Loans (SDLs) including the specialsecurities issued by State governments including special SDLs and bonds issuedunder UDAY scheme.
- Treasury Bills (T-Bills)
- Separate Trading of Registered Interest and Principal ofSecurities (STRIPS)
CRISIL Security Level Valuations of Corporate Bonds
CRISIL provides valuations for corporate bonds on a daily basis.The coverage includes different type of securities including plain vanillabonds, pass through securities, floating rate securities, high yield bonds,bonds with optionality, tax-free bonds etc.
- Government Securities valuation
- STRIPS valuation
- Bonds and CPCD- SLV Valuations
- State Development Loans (SDL) valuation
- Treasury Bills (T-Bill) valuation
CRISIL Bond Matrix
CRISIL Bond Matrix - Standard
We provide two dimensional matrices of various ratingcategories and modified duration (tenors) on a daily basis. The two types ofsector matrices published are - TRAD (traditional sectors - PSU, Corporate,Banks etc.) and NPR (covering NBFC, PTC and Real estate sectors).
CRISIL Bond Matrix - Customised
We provide customised yield curves for select issuers fordesired tenor based on requirements of the clients. The curves can be veryuseful for issuers for peer comparison for issuances and investors foridentifying new investment opportunities.
- Corporate Bond Matrix
CRISIL Intra Day Valuations
CRISIL Security Level Valuations
We provide intra-day security level valuations which arecustomised based on methodology, cut-offs and turn-around time best suited forclient's requirements. This service is extremely useful for clients seekingfair value of the security for purpose of Inter Scheme Transfers (ISTs) anddebt ETFs.
Customised Valuations
CRISIL Security Level Valuations - FIMMDA Based approach
CRISIL acts as a calculation agent for providing security levelvaluations using the FIMMDA's approach and policy. Valuations are provided fordebt securities for banks, NBFCs and general insurance companies, using theFIMMDA-defined process. Valuations are provided at different frequencies,depending upon client requirements.
Security Level Valuations - Based on client's policies
CRISIL acts as a calculation agent for providing security levelvaluations using the client's valuation policy. These valuations are highlycustomised suiting clients requirements.
Independent portfolio valuation and Portfolio reports
CRISIL provides security level valuations covering clean price,dirty price, accrued income, modified duration, convexity etc for securities inclients portfolio in format desired by the client. Additionally customisedportfolio analytics reports covering portfolio attributes like portfolio yield,coupon, duration, convexity, exposure (sector wise, duration wise, tenor wise,rating wise etc) are also provided based on client's requirements.
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SEBI (Research Analyst) Regulations, 2014 Disclaimer
CRISIL Limited is registered as a research analyst under SEBI (Research Analysts) Regulations, 2014 with registration number INH000007854 for the service. CRISIL Limited also engages in other business activities in the research and analytics domain.
We provide fixed income research tools such as Bond Valuer, the most widely accepted bond valuation tool used by asset management companies, insurance companies and pension funds in India. Other tools include CRISIL Aggregator and CRISIL Rating Tracker.
CRISIL Bond Valuer (CBV) is the most accepted bond valuation tool used by asset management companies (AMCs), insurance companies and pension funds. The tool lets clients calculate price interest accruals, gross price, modified duration and convexity for fixed income securities in their portfolio. The CBV generates customised valuation reports in an excel that can be directly used by other systems for generation of net asset value/portfolio valuations.
An extension of CBV, CRISIL Aggregator is a tool that averages the prices for fixed income securities provided by two different sources/agencies. The fixed income securities include commercial papers (CPs), certificates of deposit (CDs), corporate bonds, Treasury bills (T-bills), government securities (G-secs) and state development loans (SDL). The tool runs simulations to calculate the yields and modified duration based on the average of prices.
A tool that tracks, updates the rating actions and provides automatic updates for the securities available in a client's portfolio at an ISIN level. The daily update of securities downgrades and upgrades is utilised by the risk management/compliance/operations departments of AMCs, banks, insurance agencies and custodians for monitoring their credit risk.
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Our database offers comprehensive coverage on:
18,000+ securities and its details
3,500 valuation data for securities
9,000 rating updates
The services we offer
Fixed Income Data Services
Primary Market Datapoints
Primary Market Datapoints Issuer details, Instrument Class, FaceValue, Notified Issue Size, Green Shoe Option, Allotment date, Coupon Type,Coupon Frequency, Conversion Type, Conversion Date/Value, Allotment date, FirstCoupon Date, Coupon Dates, Redemption Date, Put/Call Option Date(s) Put / CallPrice, Issuer Rating , ISIN number etc.
Secondary Market Datapoints
Secondary Market Datapoints Clean Price, Gross Number of Trades,Volume, Turnover, Yield, Modified Duration, Tenor, Accrued Interest etc.
Rating Updates
Under this service, rating changes on fixed income instruments aretracked at a security-wise level from all the five rating agencies. This datais disseminated as a feed file via e-mail or FTP. We cover about 9,000securities under this service.
Valuations Data
CRISIL's fixed income database has valuations data forover 3,500 securities over two years and yield curve data across ratingcategories and duration buckets for over 10 years.
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Our Fixed Income Research provides customised research using its 15+ years of experience in valuations, benchmarking and data analytics. These reports include dataand analysis to suit client requirement and typically cover different aspects of the fixed income market using primary and secondary market data. Analysis includes key trends in debt market, top issuers, concentration, performance analysis, back testing of debt portfolio strategy, sectoral spread analysis etc.
Our clientele includes:
- AMCs
- Banks
- NBFCs
- Offshore funds
- Wealth managers
- Financial distributors and more
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I am an expert in fixed income markets and financial instruments, with extensive knowledge and experience in the field. My expertise includes a deep understanding of valuation methodologies, bond markets, and the intricacies of fixed income securities.
Now, let's delve into the concepts mentioned in the provided article about CRISIL's offerings in the fixed income domain:
-
Valuations:
- CRISIL offers valuations for a range of fixed income instruments, including government securities, state development loans, T-bills, STRIPS, corporate bonds, and money market instruments.
- Services include bond matrices, intraday valuations, customised valuations, and market-linked debentures valuations.
-
Fixed Income Research Tools:
- CRISIL's Bond Valuer is a widely accepted bond valuation tool used by asset management companies, insurance companies, and pension funds in India. It enables the calculation of price interest accruals, gross price, modified duration, and convexity for fixed income securities.
- Other tools provided are CRISIL Aggregator, which averages prices for fixed income securities from different sources, and CRISIL Rating Tracker, a tool that tracks and updates rating actions.
-
Fixed Income Data Services:
- CRISIL boasts a comprehensive database of over 18,000 fixed income securities, including government securities, corporate bonds, and more.
- Rating Updates track changes in ratings on fixed income instruments from all five rating agencies, disseminated via email or FTP.
-
Customised Research:
- Leveraging their experience in valuations, benchmarking, and data analytics, CRISIL provides customised research reports covering various aspects of the fixed income market. These reports include data and analysis tailored to client requirements.
-
CRISIL Bond Matrix:
- Two-dimensional matrices of various rating categories and modified duration are published daily. Matrices cover traditional sectors (PSU, Corporate, Banks) and other sectors like NBFC, PTC, and Real estate.
- Customised yield curves for select issuers based on client requirements are also provided.
-
Intra Day Valuations:
- CRISIL offers intra-day security level valuations, customized based on methodology, cut-offs, and turn-around time, particularly useful for purposes like Inter Scheme Transfers (ISTs) and debt ETFs.
-
SEBI (Research Analyst) Regulations, 2014 Disclaimer:
- CRISIL Limited is registered as a research analyst under SEBI (Research Analysts) Regulations, 2014, with registration number INH000007854.
In summary, CRISIL provides a comprehensive suite of services in the fixed income domain, covering valuation, research tools, data services, and customised research to cater to the diverse needs of clients in the financial industry.
