July 30, 2012
FOR IMMEDIATE RELEASE
Rapid Ratings Teams with Commodity Customer Coalition to Increase FCM Transparency
Rapid Ratings International Inc. is pleased to make its Futures Universe of published ratings and rating trends available to the membership of the CCC on a complimentary basis for a period of three months, in order to help futures customers make informed decisions on selecting new Futures Commission Merchants (“FCMs”). RR will make its materials available by means of special website access for CCC members.
The cooperative exercise will begin with presentation of a list of all of RR’s present Futures Universe ratings. Thereafter, CCC members will consult the website’s individual pages on FCMs and FCM-parents for past rating trends and any subsequent rating updates that occur during the period. RR will also extend its coverage to privately held FCMs who agree to cooperate with the CCC’s initiative.
John L. Roe, Vice President and Co-Founder of the CCC, issued the following statement:
We sought to provide beleaguered FCM customers with an objective metric from an independent source to aid them in selecting a custodian for their property. We believe Rapid Ratings' quantitative methodology and lack of reliance on revenue from the companies they rate uniquely qualifies them to provide this for our members.
James L. Koutoulas, Esq., President and Co-Founder of the CCC, issued the following statement:
The CCC applauds Rapid Ratings for its collaboration with the CCC and we welcome their help in giving futures customers more insight into the financial and operational strength of FCMs in this uncertain time for the industry.
James H. Gellert, Chairman and CEO, Rapid Ratings International Inc. added:
We’re pleased to partner with the CCC and to assist Coalition members in finding some solid ground after the shocks they’ve endured over the past 9 months. We also hope that, by empowering end-users to encourage private FCMs to become more forthcoming with their financials, Rapid Ratings will assist in delivering the transparency that can so positively affect this market.
The Commodity Customer Coalition is a volunteer organization which now represents over 10,000 former MF Global customers as well as many former PFG customers. For more information, or to schedule interviews, please contact John L. Roe (email@example.com, 312-933-6564).
Rapid Ratings is an alternative rating, research and analytics firm that enables organizations to most effectively assess the financial health of their customers, suppliers and investments. Its purely quantitative proprietary methodology employs company financials to produce objective, forward-looking analytics proven to exceed the accuracy of traditional ratings and risk metrics. Ratings are generated quarterly on an industry-specific, intuitive scale that provides a clear, comprehensive view of a company's financial viability. Rapid Ratings is the only firm that rates public and private US and non-US companies on the same basis, using the same system. Its coverage universe is growing daily and currently includes over 8,000 companies in 71countries across all industry sectors. Customized reports and services are provided to clients from Fortune 1000 companies, small- to medium-sized enterprises (SMEs) and buy- and sell-side financial institutions.