Finra and IDC disseminate securitised product data

Source: Finra

The Financial Industry Regulatory Authority (FINRA) today announced that FINRA and Interactive Data Corporation have created market activity and pricing-related tables for securitized products to provide investors and other market participants insight into asset and mortgage-backed securities transaction data reported to the Trade Reporting and Compliance Engine® (TRACE®).

The tables, which are available on FINRA's website and in the Market Data Center, will be updated every trading day after market close.

Steven Joachim, FINRA Executive Vice President, Transparency Services, said, "For the first time, securitized products data, including pricing tables and a market activity table - based on actual, consolidated transaction information - will be available to the public. Dissemination of these tables is the first step FINRA plans to take toward increased transparency in the securitized product market."

The tables incorporate FINRA's TRACE data, offering an aggregate summary of daily transactions in the U.S. securitized products market by asset class. Investors and other market participants will be able to use these tools to gauge market activity and price levels. The U.S. Structured Trading Activity Report includes the volume of transactions, number of trades and number of unique securities transacted, allowing investors to better gauge liquidity and market sentiment. The U.S. Structured Trading Pricing Tables offer more detailed categories by asset class and include average price, volume by trade size, and buy or sell information. The five pricing tables show aggregated price levels as well as volume of the following products: MBS pass-through securities and TBAs (to-be-announced, forward MBS trades) respectively, Agency and Non-Agency CMOs, CMBS, ABS and CDOs.

TRACE is FINRA's over-the-counter (OTC) fixed income real-time transaction reporting and dissemination service. TRACE consolidates transaction data for all eligible corporate bonds, agency debentures, and asset- and mortgage-backed securities. Transactions in corporate bonds and agency debentures are subject to dissemination, and as a result individual investors and market professionals can access information on 100 percent of OTC activity executed by FINRA member firms.

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