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Lewtan Technologies’ ABSNet Crosses 125 User Milestone in Europe |
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Demand heightened for sophisticated ABS surveillance tools |
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Contact: |
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George Henman Lewtan Technologies, Inc. 781-895-9800 www.lewtan.com |
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September 23, 2004 Waltham, MA - Lewtan Technologies, Inc.
Lewtan Technologies, the leading provider of information
and technology solutions to the global asset securitisation industry, today announced it now has
over 125 ABSNet users in Europe, representing over 40 institutional clients. Lewtan has added 14
new European ABSNet clients in the last three months including many of the largest investors and
arrangers in the industry. Already a staple for the majority of the foremost buy-side and sell-side firms in the US, ABSNet is now recognised worldwide as the industry’s most comprehensive source for global asset-backed securities (ABS) performance data, surveillance tools, analytics and content. ABSNet contains detailed collateral and bond performance data on over 9,000 structured transactions including nearly 900 non-US transactions, the largest such library available. Lewtan also recently announced the addition of European deal models to ABSNet, becoming the first provider of interactive cash flow analytics for European asset-backed securities which are continuously and automatically updated with performance data. ABS issuance has grown dramatically in Europe, with four times the number of deals outstanding today than in 2000. During this period, industry participants have suffered from a lack of transparency and information in the market. Lewtan has solved that problem with a one-stop surveillance solution which includes the largest European ABS deal library available anywhere. “The emergence of ABSNet in Europe was a turning point for analysts, traders and portfolio managers,” said Julien Mareschal, Head of ABS/MBS Trading at BNP Paribas. “ABSNet is an indispensable and highly efficient tool for tracking information and performance related to European securitisations.” BNP Paribas operates in over 85 countries and is the leading bank in the euro zone in terms of profits and market capitalization. Fueled by the expanding European market, Lewtan Technologies has experienced remarkable growth, evidenced by five consecutive quarters of record sales. “With the growth in new European ABS issues and the emergence of a secondary market, assetbacked securities are now a considerable part of European portfolio holdings,” said Stuart Lewtan, Chairman and CEO of Lewtan Technologies. “In addition, the changing European regulatory environment is creating demand for significant new requirements in internal risk management and compliance monitoring procedures. Until ABSNet emerged as the leading source for European ABS data, industry participants suffered from a lack of transparency and disclosure in the market.” ABSNet is the Structured Finance Industry's leading source for asset-backed securities surveillance and intelligence. Combining detailed performance data, powerful analytics, and a wealth of related information on asset-backed securities, ABSNet provides a valuable research, analysis, and decision-support environment for financial professionals who issue, buy, sell, trade, or invest in asset-backed securities, as well as those who facilitate and support these transactions. About Lewtan Technologies Founded in 1986, Lewtan Technologies is the leading provider of workflow solutions to the global asset securitization industry. Lewtan entered the nascent ABS marketplace with the first automated reporting system for issuers. Today more than 200 institutions rely on Lewtan Technologies’ solutions. In 1999, working in partnership with industry leaders including S&P, Fitch, and Banc One, Lewtan launched ABSNet, the industry’s leading source for ABS intelligence and surveillance. In 2001 with Deutsche Bank Corporate Trust and Agency Services, Lewtan launched iCDO, the industry’s only full-service, Web-based CDO management and administration system. Additional information available at www.lewtan.com www.ABSNet.net |
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