London-based interdealer broker Garban-Intercapital has partnered with information vendor GovPX to create GovEX, an Internet-based portal offering live prices, news and commentary for major US fixed income securities.
Due to launch spring 2001, the portal will initially cover US treasuries, federal agencies, and swaps markets, and will also serve as a gateway to Garban Intercapital's ETC automated bond trading platform.
For the GovEX system, Garban is promising live treasury quotes enhanced by the addition of "yield curve spreads" for the on the run issue and "spread trading boxes" for the off the runs showing trading markets on a yield spread and price basis. Agency coverage will feature the new "AgencyPX" product with real-time market quotes and agency news from Dow Jones Capital Markets Report. SwapPX, a premier interest rate derivative pricing service, will provide a sampling of Swap rates. Commentary and analytical services will also be offered in the future.
Ron Purpora, CEO of the US treasury and agency brokering arm of Garban Intercapital says: "For the first time, Garban-ICAP is offering its comprehensive pricing information in an internet portal that is coupled with its ETC trading system to provide a valuable service for its brokerage clients and information users."