Moneyline Telerate and TradeWeb have teamed to launch a solution that supports the trading of callable GSE debt and which is available to all market data vendors.
GSE securities are issued by government sponsored entities.
Moneyline Telerate, which is currently the only market data firm contracted to distribute TradeWeb data, says the initiative is consistent with the Bond Market Association's pending recommended voluntary practice guidelines for secondary market trading in certain GSE European-style callable securities (ECS).
The data will consist of TradeWeb's benchmark agency yield curves as designated by the respective agencies and will be delivered on a real-time feed from MoneyLine Telerate to any company.
David Walsh, chairman and CEO, Moneyline Telerate, says the service, which consists of live data points from TradeWeb, can be used in conjunction with the BMA's ECS calculator.
TradeWeb adds that GSE's are issuing more callable debt so demand for high quality benchmark agency data is growing rapidly.