Refinitiv, formerly the Financial and Risk business of Thomson Reuters, has launched an aggregate bond service to help clients access fixed income trade data that is available as a result of MiFID II in a single, simple aggregated data feed.
The trade data from approved publication arrangements (APAs) and multilateral trading facilities (MTFs) that were created as a consequence of MIFID II is a critical new source of insight for firms trading bonds and other fixed income instruments, wherever they are based. It can be used for analysis of comparable and correlated instruments traded anywhere, making the European fixed income data valuable globally.
The aggregate bond service has been developed to take away the complexity and cost for firms of consuming real time data feeds from each new reporting and trading venue separately when they don’t need to. Instead firms can consume the information they need through an innovative anonymised aggregated bond service that provides delayed post-trade APA and MTF bond trading data through a single consolidated feed. This is valuable in post-trade uses, such as best execution monitoring and reporting, including transaction cost analysis, when firms may need a simple service that covers the majority of the bond market.
Firms that do need to power their trading desks can assess prices and locate liquidity with real-time data directly from Refinitiv, which carries data from over 28 MiFID II reporting and transaction venues.
Whether clients decide to consume the real-time APA or MTF data or the aggregate bond service, they can chose to do so in their own applications via the Elektron Data Platform or on the desktop via Eikon. The Elektron Data Platform is an integrated content and capabilities platform that enables clients to get the data and analytics they need from a single trusted platform with the ability to integrate their own data, offering a range of delivery options to distribute information to wherever it is needed.
“MiFID data is providing greater transparency into the fixed income markets, creating new opportunities for the global financial community to identify new trading strategies, helping to ensure best execution for trades, and accelerating the shift to electronic trading and automation,” says Debra Walton (pictured), Chief Customer Proposition Officer. “By providing easy access to the data they need, we help clients make smarter trading decisions whether that involves powering smarter human decision making or automated trading by smarter machines. However firms chose to use the data, they need to know they can trust the data to be consistent which is why having a single source of clean and normalised data to power their applications and workflow is so important.”