NEX Data operates within the NEX Optimisation unit of NEX Group PLC (LON:NXG), has announced that it has launched a series of US Treasury Benchmarks to provide enhanced transparency and pricing information to the US Treasuries market. The new benchmarks will be published at 11am, 3pm, 4pm and 5pm in the New York trading day and will reflect actual transactions and orders during the 15-minute fixing window on NEX Market’s BrokerTec platform, the industry leading anonymous dealer-to-dealer electronic trading platform for the fixed income markets.
NEX Data helps clients simplify complexity and optimise resources. The company provides market intelligence and a price information service delivering independent OTC data for real-time, end-of-day and historical products.
The new benchmarks use data from the market’s largest trading platform and bring increased transparency to the market by creating a genuine reference price, based on actual trade and order data for the US Treasury market. Transaction and order based fixing prices are available at four key reference times throughout the day for the 2, 3, 5,7,10, and 30 year US Government notes and bonds.
NEX Markets is the primary venue for the trading of US Treasury bonds and as such, the company said that these benchmarks will reflect the most accurate price references for US government bonds available in the market. As with all NEX Data indexing products, the methodology used is consistent with IOSCO Principles for Financial Benchmarks.
Kevin Taylor, Managing Director of NEX Data said:
BrokerTec is the exchange for US Treasuries. Combining the platform’s unparalleled repository of data with NEX Data’s technical expertise will ensure that our indices are the most accurate and robust available to the market. We are committed to providing clients with greater transparency across asset classes and the launch of these new benchmarks is a further step in our efforts to provide clients with the pricing data they require.
NEX Data offers one of the largest selections of transaction-backed data in the market, providing enhanced accuracy and reliability. The company already offers a full suite of FX Benchmarks via its EBS FX Benchmarks series, and administers a selection of powerful RepoFunds Rate indices in Europe including for the Dutch, Belgian, German, French, Italian, Spanish and pan-European markets.