CanDeal and IHS Markit partner to improve fixed income pricing accessibility

The partnership aims to provide clients with access to improved market datasets in order to achieve better informed pre- and post-trade decisions.

Canadian financial markets, data and information services provider CanDeal has partnered with IHS Markit to integrate its proprietary market data into the latter’s platform, which will provide the Canadian market with a new level of fixed income pricing accessibility.

CanDeal Data and Analytics (DNA) offers dealer-source pricing accuracy and, through its partnership with IHS Markit, plans to combat one of the biggest issues currently facing Canadian capital markets.

Over the last few decades, insufficient accessibility solutions has resulted in Canadian fixed income market participants struggling to leverage the most up-to-date data. The integration of CanDeal’s 1pm, 3pm and 4pm snapshot pricing will allow IHS Markit clients to access improved market datasets and make better informed pre- and post-trade decisions, while also mitigating market risk.

“Canadian institutions need tools that are tailored for their market. Providing CanDeal’s pricing alongside IHS Markit’s evaluated bond pricing will give customers the right tools for their valuation, risk management and trading needs from a single provider,” said Krishna Shetty, executive director, fixed income business development at IHS Markit.

“We are excited to partner with CanDeal to provide additional coverage and transparency to our Canadian customer base and those trading in the Canadian market.”

A scope of pricing services and performance analytics are provided by CanDeal DNA, which it creates daily to meet the needs of buy- and sell-side traders in Canada.

Launched in 2020, CanDeal DNA has been enhancing its fixed income data pool to provide Canada’s bond market landscape with improved pricing and liquidity, including the acquisition of CIBC’s fixed income last year.

“There’s a shift taking place in Canadian fixed income markets that is being driven by greater access to data and broader adoption of analytics tools,” said Robin Hanlon, director, product marketing and sales at CanDeal Data & Analytics.

“A major player like IHS Markit leveraging CanDeal’s fixed income data will help accelerate this positive momentum and continue to bring the efficiencies to Canadian bond markets that participants have been seeking for years.”