26 November 2014

Interactive Data launches continuous fixed income evaluations

28 August 2014  |  1479 views  |  0 Source: Interactive Data

Interactive Data Corporation, a leading provider of independent evaluated pricing and reference data services, today announced the launch of its continuous fixed income evaluated pricing service.

This service allows Interactive Data to transcend end-of-day and intra-day 'snap' pricing and offer its clients greater pre-trade transparency support and price discovery capabilities on a continuous basis throughout the trading day.

Since originally announcing the expansion of its fixed income pricing services to include continuous evaluations in 2013, this initiative has remained at the core of Interactive Data's product and service development plans. Since that time, Interactive Data has further refined, and continues to enhance the technology, pricing processes, models and work flows needed to support continuous evaluated pricing across multiple fixed income asset classes -- a unique capability within the industry. This breadth of coverage, in addition to its extensive global team of 200 evaluators responding to pricing inputs in real time, means that Interactive Data's continuous evaluated pricing service can support a variety of use cases and applications within the industry.

"Real-time fixed income reference pricing alongside the executable bids/offers available on our platform would provide increased price transparency and valuable pre-trade price discovery to the market," said Nick Themelis, Chief Information Officer of MarketAxess, a leading electronic trading platform for fixed income instruments.

"We are extremely excited to launch our continuous evaluated pricing service," said Andrew Hausman, President, Pricing & Reference Data for Interactive Data. "This launch can be seen as not only a strategic milestone for our organization as well as the industry, but also as representative of the road forward for the continued growth and development of our Evaluated Pricing services and related products. The global fixed income markets continue to evolve and we see a tremendous opportunity to provide a true enterprise-wide pricing solution that provides the front office with support for pre-trade transparency and investment analysis. We also see benefits also see benefits for our clients' risk, compliance and trade processing operations, as they look to adapt to more intraday processes, fundamental market structure changes and new regulatory requirements."

"Our ability to move beyond end-of-day prices to include real-time pricing capabilities will provide us with greater pre-trade transparency support and price discovery across multiple asset classes throughout the trading day," said Constantinos Antoniades, Head of Fixed Income at Liquidnet, the global institutional trading network, which earlier this year acquired the bond trading platform Vega-Chi.

Interactive Data offers streaming evaluated pricing via three delivery options: (1) through a FIX market data feed; (2) via Vantage, its web based fixed income transparency application; and (3) through its Apex reference data product.

The following fixed income asset classes are available immediately as part of the new pricing service:

US Treasuries
US Agencies
TBA Mortgage-Backed Securities
Mortgage-Backed Securities Pass-throughs
US Corporate Bonds

Coverage will continue to expand in the coming months to include the following fixed income asset classes:

Money Markets
European Sovereigns & Credit
AsiaPac Sovereigns & Credit
Municipal Bonds

Interactive Data currently provides evaluated pricing to the world's top money managers and liquidity providers and is a leading provider of independent, end-of-day fixed income evaluations, and real-time fixed income pricing to global ETF sponsors as an input to calculating intraday indicative values (or iNAVs).

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