15c2-12 Analysis by SOLVE
Efficient, Comprehensive & Cost-Effective SEC Rule 15c2-12 Reasonable Diligence For All Negotiated And Competitive Deals
Secondary Market Pricing by SOLVE
Banking Data & Workflows by SOLVE provides our clients with powerful tools to:
• Simplicity in use and speed in accessing results — Inform trading decisions and pricing indications
• Relevant transactional data is readily available to identify comparable bonds and trades, facilitating informed decision-making
• SOLVE’s Secondary Market Pricing solution – Support for Best Execution (MSRB Rule G-18)
Features & Benefits
- Five-Year Lookback Analysis To Support Reasonable Diligence Requirements And OS Preparation
- Audit, Financial And Operating Data, Ratings Change And Bond Call Analyses
- Comprehensive Analysis Includes Summary, Issue And CUSIP Level Results
- Transparency To All Documents And Data Used In The Analyses
- Bitvore News
- Deal File Storage
Five-Year Lookback Analysis
SOLVE’s 15c2-12 Analysis assists clients in meeting the requirements of SEC Rule 15c2-12 by providing a comprehensive Five-Year Lookback Analysis. This analysis supports clients in their reasonable diligence efforts and facilitates the preparation of required OS (Official Statement) documents.
Audit Analysis
SOLVE’s 15c2-12 Analysis provides summary and detailed Audit and Unaudited analyses to allow clients to view filing performance at the summary level with the most restrictive timing across all deals outstanding or drill down into a detailed review for each Issue or CUSIP.
Financial & Operating Data Analysis
SOLVE’s 15c2-12 Analysis provides summary and detailed Financial Information and Operating Data analyses to allow clients to view filing performance at the summary level with the most restrictive timing across all deals outstanding or drill down into a detailed review for each Obligation, Issue or CUSIP. Clients can view captured images of each filing obligation as well as links to filing pages where corresponding obligations are found.
Ratings Analysis
SOLVE’s 15c2-12 Analysis provides an independently verified, third party review of all rating change events for applicable bonds at the Issue and CUSIP levels against filings made to the MSRB.
Bond Call Analysis
SOLVE’s 15c2-12 Analysis provides an independently verified, third party review of all bond call events for applicable bonds at the Issue and CUSIP levels against filings made to the MSRB.
Transparency
SOLVE’s 15c2-12 Analysis ensures transparency by providing clients with full access to all documents and data used in the analyses. This means that clients can review and verify the sources and information utilized in the analysis process, ensuring transparency and trust in the results. Having full visibility into the documents and data enhances the credibility and reliability of the analysis, enabling clients to confidently meet their compliance requirements.
Business Tools
SOLVE’s 15c2-12 Analysis offers a range of business tools to support clients in their compliance efforts. These tools include Bitvore News for negative news searches and relevant market updates and issuance history with deal participants. Clients also benefit from deal file storage for convenient document management. The solution also offers configurable PDF reports, enabling clients to generate customized reports for their deal team and internal record keeping purposes.
SOLVE Empowers
The SOLVE 15c2-12 Analysis solution offers numerous benefits to clients. It starts with ensuring all Issues are mapped to the appropriate Obligated parties, enhancing data integrity. Combining best-in-class technology with a professional Analyst team, the solution delivers exceptional service. Live feeds of filings, ratings and security reference data are utilized to generate Audit, Financial and Operating, Ratings, and Bond Call compliance analyses, while misclassified MSRB filings are reclassified and highlighted for improved accuracy. The solution provides evidence of “reasonable diligence” through access to Issuance History, OS/POS sources, and all MSRB filings. Configurable PDF reports are available for the deal team and internal record keeping, enabling customizable reporting options.
- SEC Rule 15c2-12 Reasonable Diligence for new issues
- Five-Year Lookback Analysis to support compliance requirements and preparation
- Audit, Financial and Operating Data, Ratings change and Bond Call analyses
- Bitvore News
- Obligor-focused news from thousands of sources
- Source information for prospect/client meetings
- SEC Rule 15c2-12 Reasonable Diligence
- Competitive and Negotiated deals
- Audit, Financial and Operating Data, Ratings change and Bond Call analyses available
- Summary, Issue and CUSIP Level Analyses
- Select depth and breadth of analysis
- SEC Rule 15c2-12 Diligence and Disclosure Management
- Five-Year Lookback Analysis to support Issuer’s regulatory obligations and OS preparation
- On-going continuing disclosure management for your Issuer client
- Bitvore News
- Obligor-focused news from thousands of sources
- Source information for prospect/client meetings
- SEC Rule 15c2-12 disclosure management
- Five-Year Lookback Analysis to support compliance requirements and OS preparation
- Audit, Financial and Operating Data, Ratings Change and Bond Call analyses
- Comprehensive analysis includes Summary, Issue and Bond Level results
- On-going continuing disclosure management
- Alerts for Rating Changes and Audit/Financial/Operating data filing requirements
SOLVE Empowers
SOLVE’s Secondary Market Pricing solution provides a comprehensive set of features for analyzing bond pricing in the secondary market. The solution allows users to compare the target bond with other bonds from the same issue and comparable bonds in the market. Through spread-based analysis, users can identify pricing levels for the target bond and alternatives.
The solution also includes real-time treasury benchmark yields, enabling users to evaluate taxable bond trades based on accurate spreads. Relevant transactional data is readily available to identify comparable bonds and trades, facilitating informed decision-making. User controls are provided to refine baseline results, allowing for customized analysis.
Dynamic visualization tools assist in identifying trends in price movement, providing valuable insights for market analysis. The solution also supports best execution practices, helping users achieve optimal trade outcomes. Furthermore, users can directly access the solution from the Muni Trade Ticker, ensuring seamless integration and efficiency in bond pricing analysis.
- Inform trading decisions and pricing indications with comparable trade data
- User controls to adjust any baseline results to reflect your market knowledge
- Focus on allocation needs and portfolio characteristic requirements looking at both new issues and secondary opportunities
- Launch pricing analyses for new issues to assess levels versus bonds in the secondary
- Bond-based market data and analysis for the target bond and comparable bonds
- Identify levels for the target bond and alternatives to meet your client’s needs
- Comparable bonds and trades identified
- Filters to refine comparable trades returned
- Support for Best Execution (MSRB Rule G-18)
- Comprehensive spread data and information for a taxable or tax exempt target bond and comparable bonds/trades by relevant side of the market with full transparency to all levels
- Quickly assess where the market is for a target bond, identify comparable bonds trading and as potential alternatives to the target
- Taxable trades spread against real-time Treasury benchmark rates
- Yields and spreads for taxable term bonds calculated using cash flow yield
- Identify trade ideas by using bond and trade parameters to search for scenarios of interest
- Best Execution (MSRB Rule G-18) solution
“We used to bid 5 deals and now we can bid 15 in the same time.”
“The 15c2-12 analysis is the perfect tool to help us meet our reasonable diligence needs for negotiated and competitive deals. SOLVE takes a conservative approach when determining if obligations have been met, flags all exceptions and allows our team to make the final call with regard to materiality.”
Industry Recognition
Best Data Provider- Fixed Income & Credit
Best Alternative Data Provider
Best Fixed Income Data Provider
Markets Covered
Municipals
Taxables
&
Tax-Exempt
See HOW Your Business can be powered by SOLVE’s 15c2-12 ANALYSIS
See How YOUr business can be Powered by SOLVE|Diver secondary market pricing
Hundreds of institutions rely on SOLVE to perform new issue pricing analyses, identify primary and secondary trade opportunities, monitor market activity, value fixed income positions, and comply with securities regulations.
Hundreds of institutions rely on SOLVE to perform new issue pricing analyses, identify primary and secondary trade opportunities, monitor market activity, value fixed income positions, and comply with securities regulations.
Explore More of The SOLVE Platform
with Deep Market Insight™
with Deep Market Insight™
Explore More of
The SOLVE Platform
with Deep Market Insight™
The SOLVE Platform
with Deep Market Insight™
The SOLVE Platform represents a powerful combination of data, analytics, and workflow tools that save time, reduce risk and drive the growth of your fixed income business.
The SOLVE Platform represents a powerful
combination of data, analytics, and workflow
tools that save time, reduce risk and drive
the growth of your fixed income business.
