DelphX Chooses Thomson Reuters Elektron Treasury Feed To Support Its Real Time MAV=n Fair-Value Pricing Engine For Fixed Income Market
Thomson Reuters Streaming U.S. Treasury Pricing Data Will Be Used to Calculate MAV=n Fair-Value Prices and Adjust Orders on DelphX ATS in Real Time
LONDON and NEW YORK, July 25, 2013 /PRNewswire/ -- DelphX, the forthcoming Alternative Trading System for real time fair-value pricing and informed all-to-all trading of fixed income securities, today announced it has chosen Thomson Reuters Elektron Treasury Pricing Feed to calculate its real time fair-value pricing of more than 25,000 corporate bonds and to continuously adjust the Treasury-spread pricing of orders entered on the DelphX ATS.
Thomson Reuters real time U.S. Treasury pricing feed and other streaming data will be employed by DelphX to calculate its MAV=n fair-value prices for corporate bonds, ABS/MBS and other fixed income securities. Thomson Reuters data will also be used by DelphX to continuously adjust the prices of orders entered at a Treasury-Yield spread on its transparent ATS platform and to power its Sentine=l™ functionality, which facilitates anonymous interaction among the internal portfolio-management, market-making, trading and other systems of DelphX subscribers.
"The global scope of Thomson Reuters, its array of real time fixed income information services, commitment to data quality and world-class infrastructure make it an ideal data partner for DelphX," said Larry Fondren, President and CEO of DelphX. "The data and services provided by Thomson Reuters are a crucial element of our platform, which is dedicated to providing a transparent and level playing field to all market participants and facilitating deep price-sensitive liquidity provided by all participants, including issuers, investors and traditional liquidity sources."
Dan Solak, global head of Elektron feeds at Thomson Reuters said, "We are pleased to work with DelphX to help promote transparency and liquidity in the global fixed income markets. By employing high-quality real time U.S. treasuries pricing data via our Elektron Real Time consolidated feed and by taking advantage of the speed and scalability of our Elektron managed services infrastructure, DelphX is able to provide in real time the best possible fair-value pricing service available to market participants."
Thomson Reuters has been delivering real time consolidated feeds for over 20 years. Its next generation consolidated feed, Elektron Real Time, now encompasses over 40 million financial instruments across all asset classes and geographies. It enables financial markets participants to source broader and deeper content in real time via Thomson Reuters high-performance, distributed global infrastructure which can be deployed or offered as a managed service.
DelphX is an innovation leader in the development and operation of anonymous, equitable and informed bond markets. DelphX will soon deliver the first fixed-income market to provide continuous real time fair-value pricing for more than 25,000 fixed income securities, including those that rarely trade, and transparent all-to-all trading of those issues.
Market-based valuation of corporate bonds and other fixed income securities is enabled by the proprietary MAV=n™ protocol, which continuously adjusts, validates and publishes the fair-value price of every DelphX-listed security, and Sentine=l™ functionality which facilitates anonymous interaction among the treasury, portfolio, risk-management, market-making, trading and other internal systems of DelphX subscribers. The regulated ATS functions of DelphX are managed by DelphX Services Corporation, an SEC-registered broker/dealer and FINRA-member firm.
For more information about DelphX, please visit www.delphx.com.
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