The recent proliferation of available data in the fixed income space delivers a range of potential benefits, including increased price transparency, but the fixed income arena remains complex.
Identifying and accessing trusted and relevant data can be highly challenging. With numerous data types and fragmented data sources, market participants often need to engage several data providers, multiple trading platforms, and different regulatory bodies. Furthermore, due to varying dataset formats, fixed income data can be difficult to integrate into existing workflows.
These factors mean developing a holistic view of the entire market at any given time is highly complex. Moreover, the ultimate goal of optimizing alpha is unlikely to be achieved if only basic fixed income trading data is being accessed. To remain on the cutting edge and continue to refining investment and execution strategies, traders must ensure that they take full advantage of the new data sources available.
We examine what can be done to simplify the collection and aggregation of the needed data and how execution management systems (EMSs) and third-party data and analytics platforms can play a crucial role as pre- and post-trade data aggregators. We look at how collaboration and the more open sharing of information mean that some platforms now allow both EMSs and data/analytics platforms to ingest their market data so that end users can aggregate and analyze multiple data sources in one environment, and look at the benefits this brings for all market participants.
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Fixed income as an asset class comprises a truly diverse amalgamation of securities and asset types
Fixed income market in figures
$43 trillionThe value of the U.S bond market
$11 trillionThe value of the European sovereign debt market
$436 trillionThe value of the global interest rate derivatives market