FRA – Forward Rate Agreements Product Specification

Product Code:

IRD-FRA-GLO-ALL

Description:

Our Forward Rate Agreement (FRA) packages provide comprehensive market coverage across 26 currencies. The data also includes alterative reference rate single period swaps, with data sourced directly from Tradition’s brokerage desks with 46 desks in 19 countries. Data can be delivered in real-time, intraday and end of day. Broad data coverage across both Forward Rate Agreements (FRAs) and Single Period Swaps (SPS) FRA’s are a financial contract that enable two counterparties to exchange fixed for floating interest rates. FRA’s are commonly used as a means to manage interest rate risk as well as to speculate on the future direction of interest rates. IMPORTANT NOTE: Where the underlying fixing for a FRA is a deprecated LIBOR or other IBOR, TraditionData may publish, subject to regulatory guidance, FRA rate data that are reflective of published fall-back mechanisms and market ARR rates. These levels are, therefore, not reflective of visible FRA market activity.

Data Source:

Data sourced directly from Tradition’s brokerage desks with 46 desks in 19 countries.

Delivery Method:

• real-time:Access real-time data
• Hourly:Receive hourly snapshots delivered via SFTP.
• end-of-day:Obtain end-of-day snapshots delivered via SFTP.

Data Frequency:

Market data is updated real-time directly sourced from various trading platforms.

Data Format:

CSV files for houtly snaps , FIX API for Real-time

Data Coverage:

• Asset Class: IRD Interest Rate Derivatives ( IRD )
• Sub Class: Forward Rate Agreement (FRA)
• Key stats : +1.7K instruments 24 currencies 46 desks in 19 countries. 70,000 updates per hour

FRA Data Coverage

Glossary

Tradition Data Packages:

Product Code	Product Name
IRD-FRA-GLO-ALL	Global ALL
IRD-FRA-AME-ALL	Americas ALL
IRD-FRA-AME-ARM	Americas Regional Majors
IRD-FRA-EUR-ALL	Europe, Middle East & Africa ALL
IRD-FRA-EUR-ERM	Europe, Middle East & Africa Regional Majors
IRD-FRA-EUR-EUE	Europe, Middle East & Africa EURO Emerging
IRD-FRA-EUR-MEN	Europe, Middle East & Africa MENA
IRD-FRA-EUR-SCA	Europe, Middle East & Africa Scandi
IRD-FRA-APA-ALL	Asia Pacific ALL
IRD-FRA-APA-AUS	Asia Pacific Australasia
IRD-FRA-APA-GCH	Asia Pacific Greater China
IRD-FRA-APA-JPY	Asia Pacific Japan
IRD-FRA-APA-KOR	Asia Pacific Korea
IRD-FRA-APA-SEA	Asia Pacific South East Asia

FAQ:

Question	Answer
How many snap files are available per day?	24 files per day
What are the Key benefits of TraditionData Data package?	Leverage Tradition’s US Renewable leading market presence to value your portfolio. Keep up with US Carbon and REC Voluntary scheme by capitalising on Tradition’s historical presence in this marketplace. Asses Market Risk leveraging a reliable, independent and market driven pricing source.
What is Single Period Swap ( SPS )?	A single period swap is an interest rate swap that exchanges fixed interest payments for floating rate payments, or vice versa, over a single period. Example: Company A and Company B agree on a single period swap for a notional amount of $10 million. Company A pays a fixed rate of 2%, while Company B pays a floating rate based on the 3-month LIBOR, which is set at the beginning of the period. At the end of the period, the net difference between the fixed and floating interest payments is settled.
What is forward rate agreement (FRA)?	An FRA is a contract between two parties to exchange interest payments based on a notional principal amount for a future period, with the rates agreed upon today. Example: Company A enters into an FRA with Company B to lock in a 3% interest rate on a $50 million loan starting in 3 months and ending in 6 months. If the actual 3-month LIBOR in 3 months is 2.5%, Company B compensates Company A for the difference. Conversely, if the 3-month LIBOR is 3.5%, Company A compensates Company B.
What is the list the primary interbank offered rates ?	United States: SOFR (Secured Overnight Financing Rate) United Kingdom: SONIA (Sterling Overnight Index Average): The replacement for GBP LIBOR. Eurozone: EURIBOR (Euro Interbank Offered Rate), used within the Eurozone. EONIA (Euro Overnight Index Average): Being replaced by €STR (Euro Short-Term Rate). Japan: TIBOR (Tokyo Interbank Offered Rate): Used within Japan. TONAR (Tokyo Overnight Average Rate): Alternative reference rate for the yen. Switzerland:SARON (Swiss Average Rate Overnight): Used within Switzerland, replacing CHF LIBOR. Canada: CDOR (Canadian Dollar Offered Rate): Used within Canada. Australia: BBSW (Bank Bill Swap Rate): Used within Australia. Hong Kong: HIBOR (Hong Kong Interbank Offered Rate): Used within Hong Kong. Singapore: SIBOR (Singapore Interbank Offered Rate): Used within Singapore. SOR (Swap Offer Rate): Transitioning to SORA (Singapore Overnight Rate Average). India: MIBOR (Mumbai Interbank Offered Rate): Used within India. China: CHIBOR (China Interbank Offered Rate): Used within China. SHIBOR (Shanghai Interbank Offered Rate): Also used within China. Thailand: THBFIX (Thai Baht Interest Rate Fixing): Used within Thailand. South Korea: KORIBOR (Korea Interbank Offered Rate): Used within South Korea. Brazil: CDI (Certificado de Depósito Interbancário): Used within Brazil.
Is Historical Data Available?	Yes, It varies by currency; for example, the USD FRA has been available since 2008, while the THB FRA has been available since 2017

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