TP ICAP, the interdealer broker, has launched its first-ever set of evaluated price solutions focused on fixed income securities via its Data & Analytics division. The ‘Bond Evaluated Price’ service is designed to help financial institutions with exposure to government, corporate or supranational bond risk to run internal market risk tasks and comply with regulatory requirements.
It provides pricing of fixed income instruments, by using all available bond transactions from across the TP ICAP group and a proprietary model to offer clients more granular information than just the price of a bond at one point in time. Each snapshot includes analytics that enable the client to gain insight into the market microstructure, with clear rules setting out when and what data is taken into account and specific rules for the treatment of illiquid instruments. The methodology will be carefully documented and made available to clients and prospects.
The system is said to provide transparency on the price formation process, and choice in how to access the data, be it via cloud, web interface, enterprise file delivery or API.
Eric Sinclair, CEO of Data & Analytics at TP ICAP, says, “Clients tell us that meaningful transparency in fixed income pricing is critical as global regulators increasingly require more detailed disclosure and stricter risk management. Responding to this need, Bond Evaluated Price is an original solution that augments transparency and helps clients to meet their priorities, whether that be quality, consistency or independence.”
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