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A-Team Insight Blogs

FT Interactive Adds Constituent Prices to iBoxx Service

FT Interactive Data is adding iBoxx constituent prices to complement the existing iBoxx indices that it has carried since 2001. The iBoxx indices and constituent pricing data are used by investors as a benchmark for European bonds.

The vendor will now offer both intra-day for fund accounting and end-of-day for mainstream portfolio valuation purposes. The service features iBoxx real-time index levels and bid/ask quotes for more than 1,800 investment-grade euro- and sterling-denominated fixed-income securities, including government bonds, state-guaranteed bonds, collateralised bonds and corporate bonds.

iBoxx was set up in 2001 to calculate and publish an independent family of fixed-income indices by using a selection of multiple-contributor pricing sources. In co-operation with iBoxx, Deutsche Borse has now made available the constituent pricing of the securities that encompass the iBoxx bond indices in a real-time environment.

The iBoxx product family has been developed by seven leading market-makers, together with Deutsche Borse, as a benchmark for the euro and sterling bond markets. The seven – ABN-Amro, Barclays Capital, BNP Paribas, Deutsche Bank, Dresdner Kleinwort Wasserstein, Morgan Stanley and UBS – have a commitment to supply their trading prices to Deutsche Borse once a minute during the trading day. Each price is put through a series of validation checks and the valid quotes are then consolidated into an iBoxx price. FT Interactive Data receives the iBoxx prices in real time and will distribute the prices and index levels on an intra-day and end-of-day basis

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