S&P Global has expanded its LoanX IDs (LXIDs) to provide private credit identifiers.
The LXIDs identify instruments across counterparties and datasets, enabling them to be tracked and managed throughout the private credit loan lifecycle.
Catherine Ross, head of private credit at M&G, commented, “It is essential to establish uniform, industry-wide standards for driving progress in the identification of assets, accounts, borrowers, and lenders to effectively support the scale required in this growing market.
“LoanX IDs have significantly enhanced our ability to organise and manage extensive loan data, whilst setting new benchmarks for innovation and excellence in our levels of customer service.”
The expansion will help users to organise and manage data, improving operational efficiency and interoperability, S&P Global says. LXIDs allow users to better access liquidity, understand systemic risk, and generate accurate valuations and risk analytics, it added.
Saugata Saha, president of S&P Global Market Intelligence and chief enterprise data officer at S&P Global, explained, “The expansion of private credit and the emergence of secondary trading necessitates common identifiers.
“With the extension of LXIDs to private credit instruments, market participants can finally leverage industry-standard methods to identify instruments, allocate risk and effectively settle between counterparties, achieving the efficiency and trust S&P Global has long brought to public markets.”
Users will be connected to the broader S&P Global infrastructure, which supports loan issuance, trading, settlement and performance tracking.
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