Thomson Reuters today announced the launch of a new evaluated pricing capability, the Fixed Income Global Snapshot (FIGS). By re-evaluating all non US fixed income securities with updated benchmark curves and credit spreads at both 3pm and 4pm, Eastern Daylight Time. FIGS will provide investors with updated, accurate fixed income evaluations and transparency they need to meet regulatory requirements and have a full understanding of the risks associated with the investment process.
The expansion into US snap times has been driven by market volatility, customer demand and the focus on the need for appropriate and consistent evaluations, that regulations such as Basel III and the Alternative Investment Fund Managers Directive (AIFMD) have fuelled. The new fair market evaluation service will utilize Thomson Reuters standard methodologies which incorporate trade prices, broker quotes, the latest available news, and vigorous quality control checks. The Asian, Middle East, African, and European fixed income securities were previously valued intraday and at the close within their local markets.
Jayme Fagas, Head of Evaluated Pricing at Thomson Reuters said: “Continuous market volatility and the ever-growing regulatory requirements around data granularity and clarity have placed an unseen pressure on the need for high quality evaluated prices. The addition of Fixed Income Global Snapshot to the Thomson Reuters Evaluated Pricing service signifies our efforts to continue to adapt and enhance our services to ensure we meet our clients growing needs in what continues to be a highly volatile market.”
Thomson Reuters Evaluated Pricing Service covers a global universe of 2.5 million over-the-counter (OTC) fixed income and derivative instruments, provides clients with independent trusted reliable and high quality prices for individual instruments or entire portfolios. The Thomson Reuters team of 150 experienced evaluators delivers an unrivalled level of customer service, immediate turnaround for pricing challenges including hand pricing complex instruments on request.
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