Bloomberg has launched a new front-office offering which uses a machine learning model capable of handling vast amounts of data to produce frequent pricing for real-time trading decisions.
Named Intraday BVAL (IBVAL) Front Office, the offering is separate to Bloomberg’s existing evaluated pricing service, BVAL.
IBVAL Front Office consumes market data points from various sources, including TRACE, contributed quotes and trades, of which the data is fed through a proprietary machine learning model to offer intraday pricing spanning the liquidity spectrum.
According to Bloomberg, 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.
The firm announced that BVAL Front Office is available from Tuesday 17 October to Bloomberg Terminal customers and users of its real-time streaming market data feed, B-PIPE.
“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,” said Tony McManus, global head of enterprise data at Bloomberg.
“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.”