Newly enhanced Reuters Bond Views Q3 2007

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1 Newly enhanced Reuters Bond Views Q INDEX Newly enhanced Reuters Bond Views... 1 Background... 2 How do I access Reuters Bond Views?... 2 Why change... 3 What has changed?... 4 What s new in Reuters Bond Views? ` 1

2 Background Reuters Bond Views will be upgraded to an improved version. This change will not require any customer action but will deliver a set of new screen layouts as detailed below. How do I access Reuters Bond Views? Reuters Bond Views are available in all versions of Reuters 3000 Xtra, as follows: 1. Via right mouse click menu Related bond data 2. As part of Data Store in Reuters 3000 Xtra 5.0x and above. 3. In Insert Object menu as Reuters Views 2

3 Why change 1. New content sets. Details are provided in subsequent sections. a. Global Loans coverage. b. US Asset backed securities c. US Collateralized Mortgage Obligations. d. Market Reports e. Deeper Governments and Corporates content e.g. Conversion Details. f. Preferred Stock Views and Search. g. Integrated Command line and Criteria searches. 2. Faster response times Data is directly sourced from the strategic fixed income database i.e. EJV. Hence T&C updates (including new issues updates) will be made available to you within minutes! 3. Localization (Chinese, Japanese and Korean) Support. See image below: 3

4 What has changed? Basic Terms & Conditions Basic page OLD NEW Also deeper support for Convertible bonds, Islamic Sukuks, Preferred Stocks and Hybrids. 4

5 Redemption specific Terms & Conditions OLD Schedules/Redemption page NEW 5

6 Payments specific Terms & Conditions OLD Schedules/Payments page NEW 6

7 Conversion Option specific Terms & Conditions a. OLD No support b. NEW Schedules / Conversion Details 7

8 Price history History page OLD History page yield and spread history. NEW - Also support for average life, duration, convexity history is also provided as well as price, 8

9 Notes page OLD NEW 9

10 Fixed Rate calculator OLD NEW: Support for OAS, Z-spread and additional yields 10

11 FRN calculator Analytics page PY Calc - Main/Cashflows/Market Conventions page. NEW 11

12 Issuer page OLD Issuer page NEW - Also support for loans is provided in addition to bonds. 12

13 Government & Corporates Criteria Search OLD NEW - Support for Islamic Sukuks, Hybrids, Preferred stock, Seniority is additionally provided. In addition user can search based on valuation criteria including YTW and OAS. 13

14 MBS Criteria Search OLD NEW - Deeper support for Pools, TBAs, Generics and Aggregates including valuation criteria is provided. 14

15 Help access paths OLD 2. One is at the top right with a? numbered 1 in the image below. This takes to general Reuters Bond Views help. 3. Second one is the page help numbered 2 in image below. This takes directly to the page help which is displayed. NEW Help is available via question mark icon on top right hand side of the application. See image below. Related links are shown in the banner on the right hand side of Bond description. See Company Details, Ratings Watch, and New Issues links below: OLD Related links NEW 15

16 What s new in Reuters Bond Views? 1. Market Reports Market Reports provide you with access to numerous fixed income reports such as New Issues, Ratings Changes, Upcoming Redemptions, Recent Defaults and League tables. You can further filter based on market of issue, currency, asset type and domicile of issuer. Wherever possible links to bonds are provided, so that user can drill down into individual security details. Bond & Loan League tables Bond and Loan league tables for Global, US, Europe, Asia-Pacific regions are provided as follows: New Issues This report is divided into 3 sub tabs Announced, Issued and Reopened and provides bonds which were announced, issued and reopened in the last 7 days. a. Ratings Changes This report provides bonds whose ratings (S&P or Moody s) changed in the last 7 days. 16

17 Rating Changes This report provides bonds whose ratings (S&P or Moody s) changed in the last 7 days. Upcoming redemptions Provide reports on bonds which are to be redeemed or called or put in the next 7 days. 17

18 Recent Defaults Report on bonds which have defaulted in the last 30 days. 18

19 2. Loan Views - Content coverage Debt Type T&C Priced % Priced Active Loans 68,154 5, % Inactive Loans 86, Total Global Loans* (Live and Matured) 155,092 5, % Total Fixed Income Coverage (Live and Matured) 4,736,839 2,928, % Description page 19

20 Schedules page Notes page 20

21 3. ABS & CMO Views Content coverage Mortgages (US) Debt Type T&C Priced % Priced Aggregates 61,734 60, % Generics % TBAS 2,605 2, % ARMS 80,444 77, % Project Loans 7,075 6, % Pools 882, , % CMOS / ABS / CMBS (US) Agencies CMOS 99,620 83, % Asset Back Securities 34,162 27, % CMBS Tranches 11,273 9, % Whole Loans 45,203 33, % Student Loans 1, % Small Business Administration (SBAs) % Total US MBS and Structured Products (Live) 1,226,938 1,185, % Deal Description Use the Deal description to view all available tranches and deal information as follows. 21

22 Tranche Description Use this tab to see detailed tranche information, as follows: Prepayments Use the Prepay tab to view the bond's prepayment history and calculate average life sensitivity. Prepayment history includes PSA and CPR monthly prepayments for the previous 12 months and a historical factors breakdown. You can view the bond's prepayment history in a table or graph as shown below. 22

23 Tranche Valuations Use this tab to see last night s valuation including OAS, pricing recipe and other analytic measures. See below. Deal Cashflows calculator Use the Cash Flow tab to view the cash flows for a single tranche, multiple tranches, or the entire deal. See below. 23

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