The Securities Quote Exchange (SQX) joins BDP’s Data Marketplace to Launch Their Global Fixed-Income Market Data for BDP’s Crypto & Institutional Investor Community
Started in 2001, SQX, one of the leaders in providing data on a broad range of structured notes, evaluated corporate bonds, municipal bonds for mutual funds, money managers, hedges funds and custodians. The partnership is amongst the many traditional financial data market providers who will be joining BDP’s Data Alliance and marketplace.
SQX specializes in gathering extremely difficult-to-price security quotes for fixed income instruments and REITs, allows users access to end-of-day pricing quotes, and streams those directly into back-office software. Investors rely on SQX for accurate pricing data to funnel into valuation and risk modeling. With over 400 relationships with broker-dealers globally, SQX eliminates the manual quote collection and data entry by streamlining the quote-to-desk process.
The first product SQX will be adding to BDP’s marketplace is their ‘Global HY & Corporate Bond Pricing and Evaluation Feed’ — advanced methodologies below:
- SQX combines market and security information with their model and term structure
- Algorithms reduce risk by providing more precise evaluations than traditional methods (such as bootstrapping, interpolation, and matrix pricing)
- When actual transaction prices are not available for illiquid securities, SQX uses curve pricing and the relative spread of the security
- SQX’s curve pricing represents all the securities of an issuer to better reflect the market vs. reference securities
- Spreads of illiquid corporate bonds are analyzed relative to historical levels, to ensure that pricing exceptions and errors are identified
Key Data Fields within this dataset:
- PRICE (CALC / MKT / INVOICE / FAIR / MODEL)
- YIELD (MKT / EXP / RLL / WRST)
The business relationship with BDP is another access point for traditional capital market data providers to get exposure to a new audience of institutional crypto investors, along with the 10k financial buyers on Amass Insights’ platform.
Since 2001, SQX has specialized in gathering and distributing difficult-to-price security quotes for the investment industry.
SQX offers a web-based solution that allows downloading of end-of-day price quotes for structured notes, and streams them directly into the firm’s back-office systems via Excel or SFTP. SQX currently maintains a relationship with over 100 domestic and foreign dealers, who provide clients with pricing data on fixed income instruments through SQX.
Beginning in 2015, SQX now offers daily end-of-day fixed-income evaluations. In the fall of 2016, SQX teamed up with Mergent, allowing for an even broader range of fixed-income price evaluations using Mergent data, such as municipal bond pricing.
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