Markit has launched its independent pricing service for European asset-backed securities (ABS). It seeks to cast some light on the rather opaque ABS secondary market. About 3,500 European ABS will be covered with pricing provided by the leading market makers in Europe. All the major asset classes are covered, including RMBS, CMBS, ABS and cash CDOs. Dealers will provide mark-to-market data to Markit, which it will validate before dissemination.