FX & Money Markets
Tradition USD Repo Service
1 Jun 2023
Credit & Fixed Income
Japanese Government Bonds now available via...
18 May 2023
Product launch: Derivium Tradition
25 Apr 2023
Interest Rate Derivatives
Best in class USD Swaps data...
By Ian Sams
19 Apr 2023
25 new USD SOFR Butterfly Spreads...
13 Feb 2023
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Trad-X – Tradition’s award-winning Interest Rate platform – and MTS – one of the leading European electronic fixed income platforms and data service providers – have partnered to create an innovative Asset Swap data service consolidating MTS’s French, German, Italian and Spanish Government bond data with Trad-X’s EUR Interest Rate Swaps pricing.
We publish accurate Yield/Yield and Par/Par Asset Swaps built from the two fully executable, dealer-to-dealer (D2D) regulated, real-time order books via our own data feeds, as well as through Refinitiv and Bloomberg.
By providing visibility into European asset swap spreads, we assist a broad cross-section of the buy and sell-side in the pricing of new issues, benchmarking of positions and the hedging of interest rate risk.
The MTS Tradition European Asset Swaps service benefits issuers of European debt, financial institutions such as insurers, investors and asset managers who want to manage their cash flow profiles and reduce interest rate risk.
Yield-Yield Asset Swap: The difference between yield on a bond and the swap rate (i.e. the interest rate applicable to the fixed leg in the floating-for-fixed interest rate swap). The difference between yield on a bond and a benchmark curve is useful in assessing credit risk of different bonds and sometimes known as a ‘matched-maturity asset swap’.
Par-Par Asset Swap: Indicates the combination of a fixed-rate bond and an interest rate swap (IRS), structured such that the total cost to the investor is par. The par asset swap spread is the value that sets the value of the package equal to zero at initiation.
Gadgets Included: Included within the service are ‘Gadgets’, which are the yield differential between the bond futures cheapest to deliver bond and corresponding swaps tenor.
Japanese Government Bonds now available via…
Best in class USD Swaps data…