Reuters is to deliver GFI Group's credit default swap data and Fenics Credit pricing tools over its 3000 Xtra, Bridgestation, Trader and North American Capital Markets desktops products.
New York-based interdealer broker GFI says the service will deliver wide scale access to its intraday credit default swap prices. Reuters will deliver prices and trade data from GFI's database of reference entities, supplemented by independently generated curves from the Fenics Credit pricing tools.
The deal is part of Reuters' larger push into the fixed income market and builds on other content agreements with Cantor, CreditTrade, and Credit Text, plus the vendor's trading arrangement with Deutsche Bank's Autobahn.
Under this latest agreement, subscribers to Reuters' desktop products will have free access to a GFI credit reference page which lists five-year CDS levels for a series of credit entities globally, selected to cover a range of sectors and regions, in addition to the 'most actives', 'newly actives' and 'biggest movers' of the day.
In addition, both the GFI Credit Portal - a Web-based service that provides access to credit market databases and analytics - and the Fenics Credit calculator will be available over the 3000 Xtra and BridgeStation terminals.
Michael Gooch, chief executive officer, GFI, says the growth and stability of the credit derivatives market depends on the ability of all market participants to know their credit exposure at any time.
"With its distribution capabilities in fixed income, equity and currency markets, Reuters is the ideal partner for GFI to create the benchmark for credit derivative price discovery," he adds.