Non-performing loan specialist LCM Partners has won a new contract from the European Central Bank to promote the asset-backed securities market by standardising data and improving transparency.

LCM has been working with the ECB since 2009 on its ABS initiative, which aims to create a more transparent market in Europe and encourage new issuance. LCM also helped build and launch the European DataWarehouse, which aims to standardise data for ABS issuance in Europe. The new tender will extend the firm's contract with the ECB until 2017.