Bloomberg’s Intraday BVAL (IBVAL) Front Office is now available to Bloomberg Terminal customers, as well as users of Bloomberg’s real-time streaming market data feed, B-PIPE.
IBVAL Front Office consumes billions of market data points from a variety of sources, including TRACE, contributed quotes and trades before being fed through a proprietary machine learning model to provide intraday pricing across the liquidity spectrum.
Tony McManus, global head of enterprise data at Bloomberg, said, “Credit markets have evolved dramatically in the last few decades through the introduction of electronic trading and the consequent introduction of portfolio trading, fixed income ETFs, and credit algos. To support these trading strategies, firms require more high-quality pricing data, and they need it faster than ever.
“We launched IBVAL Front Office to provide customers with timely pricing data that easily integrates into their trading and pricing execution workflows, so they can operate faster in increasingly automated fixed income markets.”
Bloomberg claims IBVAL Front Office delivers prices as fast as every 15 seconds and can capture a new bond issue moments after the security is available for secondary trading. Pricing is systematically streamed throughout the day to address outliers, spikes, drifts, and jumps in price, helping to support real-time trading needs such as pre-trade analytics, assessing the intraday performance of indices, and automated trading.
Currently, Bloomberg provides intraday pricing on approximately 30,000 TRACE eligible USD, high yield and investment grade corporate securities and intends to continue to expand coverage to include EMEA, APAC and emerging markets. IBVAL Front Office is the pricing engine behind Bloomberg’s Tradable Trackers, a suite of rules-based indices that consists of 200 liquid bonds measuring the performance of the Bloomberg US corporate bond index and related spreads.
© Markets Media Europe 2023
