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NEW YORK - S&P Global announced Tuesday it is expanding its LoanX ID (LXID) system to cover private credit instruments, addressing standardization needs in the growing private credit market.
The company’s identification system, which already covers more than 70,000 broadly syndicated loans and credit instruments, aims to enhance interoperability and operational efficiency across private credit markets. With robust revenue growth of 13% over the last twelve months and an impressive 69.4% gross profit margin, S&P Global continues to strengthen its market position.
According to the company, the expanded system will help market participants identify instruments, allocate risk, and settle between counterparties more effectively. The identifiers are designed to facilitate interoperability with broader credit markets, enable more accurate valuations, and improve operational efficiency in portfolio management.
"The expansion of private credit and the emergence of secondary trading necessitates common identifiers," said Saugata Saha, President of S&P Global Market Intelligence and Chief Enterprise Data Officer at S&P Global, in the press release statement.
Catherine Ross, Head of Private Credit at M&G, noted that "LoanX IDs have significantly enhanced our ability to organize and manage extensive loan data."
The LXID system is part of S&P Global’s suite of solutions for private markets, which includes private company data, valuations, risk analytics, and portfolio management software. The company stated that its Enterprise Data Organization is powering LXID generation, enabling linking across datasets and connecting instrument-level information with issuer data in S&P Capital IQ Pro.
S&P Global (NYSE:SPGI) provides data, expertise, and technology services to governments, businesses, and individuals globally.
In other recent news, S&P Global announced the acquisition of TeraHelix, a fintech firm known for its expertise in data structuring for enterprise-scale interoperability. This acquisition, finalized in early June, aims to enhance S&P Global’s data and AI capabilities by integrating TeraHelix’s advanced data modeling frameworks. The move is expected to improve the efficiency of complex data workflows and provide greater value to S&P Global’s customers. The financial specifics of the transaction were not disclosed, and it is considered non-material to S&P Global’s financials. In India, private sector activity accelerated significantly in June, as reported by the HSBC Flash India Composite Purchasing Managers’ Index, which reached a 14-month high. This surge was driven by increased production to meet rising domestic and international demand, leading to record export growth and robust hiring. Meanwhile, the UK construction sector saw firms cutting staff at the fastest rate in nearly five years due to rising wage expenses and decreased demand, despite an unexpected rise in the Purchasing Managers’ Index for May. Additionally, the UK’s services sector experienced modest growth in May, rebounding from a contraction in April.
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