Interdealer broker Garban-Intercapital and treasury information specialist GovPX have unveiled plans for a new financial information product called AgencyPX.
The product is being developed in response to growing interest in the fixed income securities of leading US government agencies like Fannie Mae, Freddie Mac and Federal Home Loan. AgencyPX will offer pricing, last trade, yield spreads, history and news for this market.
"GovPX and Garban are responding to the market's need for more information on benchmark pricing by making it widely available. AgencyPX will offer market participants needed, vital information on agencies that will be powered by the GovPX real-time treasury pricing service," says Lawrence Leuzzi, chairman and CEO, GovPX.
The service will be offered through the GovPX network of third party distributors as well as being available over the Internet, he adds
The first phase of AgencyPX is expected to be launched over the Internet in October 2000. A roll out to the major financial information vendors, such as Bloomberg, Bridge, and Reuters, will take place in the fourth quarter. AgencyPX will initially be made available on a trial basis to the current 50,000 GovPX users.