S&P Global Market Intelligence (SPGMI) and MarketAxess have announced a strategic data partnership aiming to increase transparency and efficiency for the fixed income markets.
Laura Misher, Kat Sweeney
As part of the partnership, S&P Global bond reference data will be integrated into MarketAxess’ suite of data products, while MarketAxess CP+ real-time pricing will also be included into S&P Global’s evaluated bond pricing.
MarketAxess CP+ is a real-time bond pricing source for global credit, rates and emerging markets powered by AI and proprietary data. The source is used by clients for price discovery, transaction cost analysis, and automated trading strategies.
The combination of S&P Global’s evaluated bond pricing of over 1.2 million corporate, sovereign and municipal bonds with MarketAxess CP+ is expected to lead to more consistent pricing and greater efficiencies across the trade lifecycle including front-, middle- and back-office functions.
“We are excited about this collaboration as it connects a market-leading institutional trading platform with a leading data provider, bringing transparency and consistency in data used across the different functions of our customers,” said Laura Misher, vice president at SPGMI.
“Additionally, our combined expertise will allow us to develop solutions that will address customer challenges across the trade lifecycle.”
The data integration is expected to start in H1 of 2025, enabling the companies to differentiate their existing product offerings and innovate new solutions.
The development follows Intercontinental Exchange’s ICE Bonds and MarketAxess connecting their respective liquidity networks in a bid to improve efficiency and access to deeper liquidity in fixed income markets, announced in August.
Read more: ICE Bonds and MarketAxess connect liquidity networks to bolster bond market efficiency
“Incorporating CP+ into S&P Global evaluated bond pricing service will enable our firms to close the gaps between best execution, intraday trading decisions and end-of-day valuation,” said Kat Sweeney, global head of data and ETF solutions at MarketAxess.
“We are thrilled to be working with S&P Global Market Intelligence, an innovator across the entire fixed income ecosystem, to further our common goal of bringing more transparency to the fixed income cash and ETF markets.”