McGraw-Hill’s Standard & Poor’s Corp. has tapped CIBC World Markets as the source for bond evaluations in Canada. As part of the reciprocal arrangement, CIBC will add Standard & Poor’s bond evaluations to its own PriceBase market data platform.
Standard & Poor’s says the move is in response to growing demand for comprehensive cross-border bond data. The company plans to make the CIBC bond data available to its clients globally. It also will make available CIBC’s indicative end-of-day Canadian bond pricing data via its data feeds.
Standard & Poor’s Securities Evaluations provides independent evaluations and pricing services for more than four million global instruments, including U.S. municipal securities (including taxable municipals), U.S. corporates, certificates of deposit, syndicated loans, non-U.S. fixed income, municipal indices, and global equities.
CIBC World Markets is a major player in the Canadian fixed-income research products and trading markets. CIBC World Markets prices approximately 15,000 securities. The firm is also a price contributor to the newly launched S&P/TSX Canadian Bond Index, the first independent, multi-contributor bond index for the marketplace in Canada.
CIBC World Markets collaborated in the development of the bond index with Standard & Poor’s and with RBC Dominion Securities. The index launches in the second quarter and features 15 years of blended index output data.