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In his role as Global Head of Product, Ian brings over a decade of experience at TraditionData, and more than twenty-two years within Tradition Group. Ian will drive a clear product strategy, overseeing and enhancing TraditionData’s product suite with high-quality data solutions which meet the increasingly complex needs of our client base.
USD-SOFR Indicative rate service
03/12/2024

USD – Tradition Predictive Overnight Repo (TPOR)

A valuable insight during the trading day as to where SOFR will fix tomorrow.
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SUMMARY

Monitor trends and track stress indicators with the Tradition Predictive Overnight Repo (TPOR) Service.

The Tradition Predictive Overnight Repo (TPOR) Service combines market leading general collateral repo trade and volume data sourced from our number one inter-dealer brokerage desk with anonymized tri-party repo trade and volume data from BNY Mellon.

By taking incoming data from both Tradition and BNY Mellon, and using a proprietary methodology, we produce a volume-weighted median repo rate throughout the day which informs our clients of where SOFR will fix the following day.

The industry in the US transitioned from LIBOR to SOFR, the leading alternative benchmark, on 30th June 2023. In the post Libor world, the ability to offer predictive rate data to financial market participants helps improve marketplace efficiency and transparency.

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Key stats

+
2
year of data since launch
0.003
%
average deviation to the Fed’s SOFR data
2
data sources
+$
450
bn
combined cumulative volume of sourced Tradition Predictive Overnight Repo (TPOR) data
BENEFITS

Key benefits of the Tradition Predictive Overnight Repo (TPOR) service:

Market relevance -This rate form the benchmark interest rate for dollar-denominated derivatives and loans around the world.

Market insight – Every day at 8am the NY Fed publishes the SOFR rate by calculating the volume-weighted median (50th percentile) of transactions in three overnight US Treasury repo markets: Tri-party Repo cleared through BNYM, General Collateral Finance (GCF) Repo cleared through FICC, and Bilateral Repo (DVP).

Delivery channels & frequency – Tradition Predictive Overnight Repo (TPOR) data is available directly from TraditionData and AWS Data Exchange. Shortly it will also be available through BNYM’s Marketplace. The rate is available throughout the day on an hourly snap basis and as an end-of-day rate at 4:30pm.

Value experienced – Our Tradition Predictive Overnight Repo (TPOR) data helps inform your decision making whether you participate directly in the overnight repo market or you leverage financial instruments where SOFR is used in determining the amount of interest paid.

“We are acutely aware of the significance of this and the requirement for high quality data services around it. This new development from our data product team will provide a valuable insight during the trading day as to where SOFR is likely to fix tomorrow. In addition, this intra-day service will allow the global trading community to monitor trends and track stress indicators.”
Scott Fitzpatrick, Global Head of TraditionData
USD-SOFR
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Americas:
+1 212 978 1950
DataSalesAmericas@tradition.com
Asia Pacific:
+65 6533 7976
DataSalesAsia@tradition.com
Europe, Middle East & Africa:
+44 (0)20 7198 5959
DataSalesEMEA@tradition.com

This document and its contents are confidential. It is intended solely for the use of the individual or entity to which it is provided. Information contained herein is the property of Compagnie Financière Tradition S.A. or any of its subsidiaries and/or TraditionData (together “Tradition”). Unauthorised disclosure, copying or distribution of such information is strictly prohibited, and the information shall not be redistributed in any form to any third party, in each case without the prior consent of Tradition. Whilst every effort is made to ensure the accuracy of the information contained herein, no warranty, condition or guarantee is given by Tradition in respect of any information. Nothing herein constitutes investment advice or an offer, or solicitation of an offer, to buy or sell any financial product. To the maximum extent of the law, Tradition accepts no responsibility for any reliance placed on the contents of this document and accepts no liability for any direct, indirect or any other loss arising out of any use of the information contained in this document or any omission from it. It is not intended for distribution to, or use by any person or entity in any jurisdiction or country where such distribution or use would be contrary to any applicable law or regulation. Copyright © Tradition, 2024. TraditionData is a trade mark of Tradition. Commercial in Confidence.

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