Historically low interest rates have fuelled a dramatic increase in the size of the fixed income market. The way dealers interact with their institutional customers is changing as the dominance of the principal-based trading model begins to fade, in favour of increased use of electronic trading venues and risk-less principal trading. These developments put a premium on access to timely updates. We're helping our clients adjust to changing dynamics by providing continuous, independent evaluated pricing to front, middle and back offices, extending the reach of fixed income end-of-day evaluations into intraday applications.
Continuous evaluated pricing helps create:
As a leading provider of evaluated pricing and related services, we're uniquely positioned to deliver this ground-breaking service. Our innovative approach combines both system and human analyses to generate a continuous stream of fixed income evaluations that processes and incorporates market data throughout the day.
Our approach is rooted in the judgment and expertise of our evaluation team and does not rely solely on black box models.
Here’s how continuous evaluated pricing is performed:
Continuous Evaluated Pricing empowers funds to calculate NAVs at any time during the trading day, using continuously updated evaluations for constituent securities.
This facilitates the intraday monitoring of a fund’s holdings to help identify and isolate those positions most likely to require review during the official NAV setting process. Some institutions elect to match the timing of the official NAV setting with local market convention.
Delivered through our traditional snapshot platform at snap times you choose; well-suited for those accustomed to FTP-style data delivery.
Add-in for Excel allows you to integrate Continuous Evaluated Pricing into custom spreadsheet tools and watch lists.
Market Data Feed
FIX protocol-based market data feed or Consolidated Feed enables access to Continuous Evaluated Pricing throughout the day.
Trading desks and post-trade reviewers monitor trade prices as indicators of a bond's market value. A rules-based approach to price monitoring that combines multiple inputs with human oversight can help isolate and prevent outlier data from influencing valuations.