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Bloomberg, NEX BrokerTec and Tradition Team Up on Fixed Income Data

Bloomberg has launched a new data service with NEX Group that aims to establish a liquid and transparent reference for US Treasuries and interest rate swaps. Known as Bloomberg Capital Markets Package, the service will combine NEX’s BrokerTec US Treasuries data with USD spread-over data from Tradition’s swap execution facility (SEF) Trad-X platform. In the interest rate swaps market around 70% of volume is traded in spread-overs, meaning transparent US Treasuries pricing data is essential to market participants. Historically, NEX BrokerTec – formerly ICAP – has provided its US Treasuries and interest rate swaps data to Thomson Reuters as part of its 19901 data package, although the deal is to come to an end this month. According to the Financial Times, Thomson Reuters will use Treasury data from Tradeweb’s interdealer marketplace Dealerweb as well as data from BrokerTec interest rate swaps prices provided by ICAP. The data from NEX BrokerTec and Tradition’s SEF, which has launched today, will be available via the Bloomberg Terminal and as a data feed.

 

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