Bloomberg Expands IBVAL Front Office Pricing Solution

Bloomberg has expanded its pricing solution, Intraday BVAL (IBVAL) Front Office, to cover EUR and GBP investment grade and high yield credit bonds included in Bloomberg’s Europe and UK credit indices according to a story in Desk news. New contextual features have also been released giving traders insight into IBVAL’s pricing. IBVAL uses a machine learning model that utilizes billions of market data points from a variety of data sources to deliver real-time pricing across the liquidity spectrum. IBVAL takes into account a “tremendously” high volume of data that ticks throughout the trading day. IBVAL consumes billions of market data points from a variety of sources including publicly available trade reporting sources, such as TRACE data; market quotes from global and regional banks, broker-dealers and other Bloomberg Terminal subscribers, security reference data, and more. The fragmented nature and volume of this data lends itself well to IBVAL’s use of machine learning to accurately parse this information at scale. Customers receiving IBVAL through B-PIPE will also be able to view the associated scores from Bloomberg’s leading evaluated pricing service, BVAL. This BVAL score is from 1 to 10 and reveals the relative amount and consistency of market data used to calculate the IBVAL price for a given security as of the most recent BVAL snapshot.