Data to Provide Traders with Better Insights into Prevailing Pricing Drivers
NEW YORK, April 24, 2012 — BNY Mellon today announced a major enhancement in the streaming of real-time pricing data for fixed income securities to the trading desks of BNY Mellon Capital Markets, LLC. This enhanced streaming will provide better insights into prevailing market pricing, and thereby strengthen BNY Mellon Capital Markets' market making and trading capabilities.
"Improving our access to market-derived pricing information enables our traders to make faster and more informed trading decisions," said Ted Bragg, managing director and co-head of fixed income trading at BNY Mellon Capital Markets. "This improvement in the data available to our traders reflects BNY Mellon's commitment to maintaining its tradition of client-focused technological leadership in the fixed income trading space."
This enhancement of real-time pricing data streaming is being accomplished via a multi-year enterprise solution agreement with Benchmark Solutions. Under the agreement, BNY Mellon Capital Markets is the first broker dealer to utilize Benchmark Solutions' patent-pending Market Calibrated Framework(SM) technology. Benchmark Solutions is the only provider of independent streaming prices for the fixed income and derivative markets. Its patent-pending solution analyzes millions of market inputs to create market derived prices with 10-second revisions. Benchmark Solutions currently prices 90 percent of corporate bond volumes monitored on TRACE (Trade Reporting and Compliance Engine), both investment grade and high yield issues. Pricing data is also provided for over 1,000 CDS curves across six of the most frequently traded tenors.(1)
"Streaming real-time pricing data positions us as a first-mover in terms of pre-trade intelligence," said Craig Messinger, executive vice president and global head of trading and risk management for BNY Mellon Global Markets. "Enhanced data streaming will contribute to a better understanding of an asset's value, more insightful identification of buy/sell opportunities and better real-time risk management – all key to our delivery of superior client service."
A full-service broker-dealer subsidiary of BNY Mellon specializing in underwriting and sales and trading services, BNY Mellon Capital Markets, LLC (member FINRA, SIPC) is a leading provider of securities services for large public and private corporations, various governmental and not-for-profit entities, and institutional and high-net-worth investors seeking efficient execution, industry expertise with timely and relevant market commentary, and a collaborative relationship. BNY Mellon Capital Markets is part of BNY Mellon Global Markets, which also includes the Foreign Exchange and Derivatives business of The Bank of New York Mellon. Together these three businesses provide products for corporate, institutional and high net worth individuals to access liquidity, execute investment and hedging requirements, conduct offerings and manage risk.
BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, offering superior investment management and investment services through a worldwide client-focused team. It has $26.6 trillion in assets under custody and administration and $1.3 trillion in assets under management, services $11.9 trillion in outstanding debt and processes global payments averaging $1.4 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com or follow us on Twitter@BNYMellon.
(1) Although BNY Mellon Capital Markets does not currently offer credit default swaps, information relating to CDS is a useful tool in pricing other fixed income investments.
Pricing and valuation limitations exist for many products; not an offer to purchase. The information presented is: valid only as of the date indicated; subject to change, including without notice; believed by BNY Mellon Capital Markets, LLC ("BNYMCM") to be reasonable and accurate; and was obtained from sources believed reliable, but BNYMCM makes no representation or warranty as to accuracy, completeness or fitness for particular purposes, and is not liable for reliance on this information. Providing estimated prices or indicative valuation at your request does not constitute a bid by BNYMCM for any security or transaction and should not be your primary basis for determining value in making any investment decision. It should only be used in conjunction with information obtained from other sources, including other pricing estimates and indicative valuations. A market for the securities and transactions may not exist, and a sale in an adverse market could result in proceeds far less than the estimated price or indicative valuation provided. Pricing may not take into account position size, market volatility or other conditions, the risk of counterparty default or liquidity. When pricing sources are not readily available for certain securities, estimates may be used, may not been confirmed by actual trades and may vary from values assigned while in BNYMCM's or any other entity's inventory, or in your account. It is your responsibility to verify these prices, as you deem appropriate for your business and investment purposes. BNYMCM does not provide tax, legal, or accounting advice. You should independently and carefully consider whether any investment is suitable for your particular investment objectives and financial position and, if you believe it appropriate, seek professional advice, including tax, legal and accounting advice. The information herein is for reference purposes only and is not intended to be a recommendation with respect to, or solicitation or offer to buy or sell, any security in any jurisdiction in which such offer or solicitation, or trading strategy would be illegal.
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