Source: BNY Mellon
BNY Mellon today announced a major enhancement in the streaming of real-time pricing data for fixed income securities to the trading desks of BNY Mellon Capital Markets, LLC.
This enhanced streaming will provide better insights into prevailing market pricing, and thereby strengthen BNY Mellon Capital Markets' market making and trading capabilities.
"Improving our access to market-derived pricing information enables our traders to make faster and more informed trading decisions," said Ted Bragg, managing director and co-head of fixed income trading at BNY Mellon Capital Markets. "This improvement in the data available to our traders reflects BNY Mellon's commitment to maintaining its tradition of client-focused technological leadership in the fixed income trading space."
This enhancement of real-time pricing data streaming is being accomplished via a multi-year enterprise solution agreement with Benchmark Solutions. Under the agreement, BNY Mellon Capital Markets is the first broker dealer to utilize Benchmark Solutions' patent-pending Market Calibrated Framework(SM) technology. Benchmark Solutions is the only provider of independent streaming prices for the fixed income and derivative markets. Its patent-pending solution analyzes millions of market inputs to create market derived prices with 10-second revisions. Benchmark Solutions currently prices 90 percent of corporate bond volumes monitored on TRACE (Trade Reporting and Compliance Engine), both investment grade and high yield issues. Pricing data is also provided for over 1,000 CDS curves across six of the most frequently traded tenors.(1)
"Streaming real-time pricing data positions us as a first-mover in terms of pre-trade intelligence," said Craig Messinger, executive vice president and global head of trading and risk management for BNY Mellon Global Markets. "Enhanced data streaming will contribute to a better understanding of an asset's value, more insightful identification of buy/sell opportunities and better real-time risk management - all key to our delivery of superior client service."