S&P launches new US fixed income securities reference data service

Source: Standard & Poor's

To address the dealer community's need for timely reporting of fixed income securities and in support of the municipal industry's Real Time Trade Match (RTTM) efforts, Standard & Poor's, a leading provider of descriptive data on over 1.5 million issues, will now deliver updated securities data within 15 minutes.

The new service, Standard & Poor's Securities DataManager, will deliver municipal and corporate fixed income descriptive data with continuous intra-day updates throughout the day to major institutions nationwide.

The recently amended rules, MSRB G-14 and MSRB G-34, which are the result of a collaborative effort by industry leaders and regulatory authorities, mandate the submission of municipal trades within 15 minutes of execution and the announcement of the "Time of Formal Award," indicating the timing of the trade.

In addition to assisting clients to meet real-time trade requirements, this new service may lead to increased operating efficiencies, and rapid error detection and resolution. These key benefits facilitate buy/sell decisions and improve sector analysis.

"The industry's move toward straight through processing (STP) and the minimization of settlement periods from T+3 to T+0, warrants the expansion of municipal and corporate securities reference data delivery," said Frank Ciccotto, senior vice president of Standard & Poor's, a leading provider of independent research, indices and ratings. "By amending the rules, the dealer community has sent a strong signal for the need for timely reporting and we believe that the new Standard & Poor's Securities DataManager firmly supports the RTTM needs of its customers."

Standard & Poor's Securities DataManager is available in either fixed fielded or XML formats allowing for ease of integration with existing technologies.

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