Exchange Data International (EDI), a provider of global security corporate actions, pricing and reference data, in partnership with The Beast Apps announced today the release of its latest data feed, bondΣ.
The new service provides clients with the necessary data to comply with regulatory requirements, perform risk analysis and test investment strategies. It combines EDI's fixed income and pricing data with algorithm apps from The Beast Apps, a provider of a cloud based Financial App Store offering access to data, analytics, risk and valuation services, to generate an initial set of 11 fixed income derived data fields such as Yield to Maturity, Modified Duration, Effective Duration and Convexity.
bondΣ currently covers 150,000 debt securities including Government and Corporate, Fixed Rate, Floating, and Convertible issuance, providing clients with an insightful report on the global fixed income market. It also gives clients access to crucial data to value and efficiently manage their portfolio. EDI is currently looking to plug in pricing for a further 50,000 securities in order to cover all traded listed bonds. The feed will be delivered the next day by 8am GMT.
"EDI development strategy is to integrate rich deep content sets within the decision making requirements of global trading and administrative business functions. By partnering with The Beast Apps, EDI is enabling clients to gain a more detailed view of their holdings and accurately calculate the risk of their portfolio.", says Kevin Brady, Executive Director at EDI.
"Clients of the bondΣ service benefit from The Beast Apps' experience in writing algorithmic formulae and developing financial applications, as well as EDI's in-depth knowledge of market data.", he added.
"The Beast Apps is solving the 'Last Mile Problem' for the providers of financial data by delivering apps through the cloud at a 'Desktop Speed'. By partnering with EDI, through bondΣ, we provide clients with direct access to critical end of day and analytics pricing for valuing and managing their fixed income portfolios effectively.", says Ashok Mittal, President, The Beast Apps.
In addition to distributing the bond analytics data via the bondΣ feed, the partners have also agreed on delivering the analytics data via The Beast Apps. The apps enables clients to access the information using Excel through the cloud helping workflow integration challenges without any programming being required. It also allows them to collaborate in real time with colleagues and clients which is more efficient than just using IMs and email.