SIX, a Swiss-based and globally operating financial data expert, announces that municipal bond pricing generated by global electronic market operator Tradeweb (Tradeweb Municipal Ai-Price) is available to SIX clients. Through this offering, SIX will provide US municipal bond pricing that leverages Tradeweb’s proprietary machine learning and data science models combined with Tradeweb’s proprietary electronic market data.
💡 Access municipal bond pricing data via @TradewebAi-Price Municipal Service – a dynamic dataset that adapts to the rhythm of the market, combining pre- and post-trade information and expertise on the assessed price of municipal bonds.
➡️ https://t.co/Mx2hHk6vTq pic.twitter.com/ziZpHGDgMI
— SIX (@sixgroup) October 4, 2022
Despite the high volatility in the US rates market, less than 3% of tax-exempt fixed coupon US municipal bonds trade daily, impacting price discovery and transparency of these bonds. Access to datasets has become increasingly essential for forming an accurate price, allowing market participants to manage risk more effectively and make more informed trading decisions.
Tradeweb Municipal Ai-Price solves this problem through a combination of proprietary data, machine learning and other advanced data science methods, producing reliable price levels regardless of how frequently these bonds are traded. The service provides daily prices on more than 960,000 municipal bonds using data published by the Municipal Securities Regulatory Board (MSRB) and proprietary data from the Tradeweb platform. Compared to traditional municipal bond pricing services, Tradeweb’s Municipal Ai-Price model dynamically refines key factors and does not rely on manual interpretation in order to predict at or near a traded price.
As a global provider of financial information, SIX carefully selects its partners to provide its clients with reliable and integrated proprietary data. For municipal bonds, by partnering with Tradeweb and their AI-enabled approach, clients gain access to dynamic datasets that adapt to the market, combining pre- and post-trade insights and expertise on assessed municipal bond prices from Tradeweb’s robust market.
Shai Popat, Managing Director, Head Product and Commercial Strategy Financial Information at SIX, comments: “Through this collaboration with Tradeweb, SIX is providing its clients with more municipal bond data to power their operations and management systems. risks. Clients can receive this data in a standardized format, in conjunction with our high-quality tariffs, prices and benchmark data, as well as our renowned corporate actions and regulatory data.
Lisa Schirf, Managing Director, Global Head of Data Strategy at Tradeweb, added, “With a long history in municipal bonds, we are excited to offer a solution that increases transparency and accessibility for clients. of SIX. We believe that Tradeweb Municipal Ai-Price represents the next frontier in applying data science to help make markets more efficient with high quality and accurate intraday reference and closing prices.
Source: SIX