Regulatory requirements are forcing the need for greater market transparency and mean banks need access to quality, benchmark, independent prices, evaluations and reference data. Reuters customers will benefit from expanded access to iBoxx indices which support regulatory requirement and also serve as a platform for derivative pricing, hedging tools, funds, research and other products. The iBoxx indices cover a comprehensive set of investment grade fixed income issues in Euro, Sterling US dollar and pan-Asian indices â including Sovereigns, Corporates, Treasuries, Agencies as well as industry and sector-specific data.
The bonds that comprise the iBoxx indices are priced by selected leading investment banks. The prices obtained from the participating investment banks are subjected to a rigorous set of quality control checks before being consolidated into an iBoxx price, from which the indices and analytical values are calculated. Multiple-contributor pricing ensures that the iBoxx price is an accurate reflection of the market. Prices for bonds used in the index calculation are provided by ABN AMRO, Barclays Capital, BNP Paribas, Deutsche Bank, Dresdner Kleinwort Wasserstein, HSBC, JPMorgan, Morgan Stanley, Royal Bank of Scotland and UBS. iBoxx Indices are available from today over Reuters 3000 Xtra, Reuters Trader and Reuters Station desktops.
Mark Robson, Global Head of Treasury and Fixed Income services, Reuters, said: "Weâre really pleased to bring our customers access to reliable, independent benchmark bond index data through adding iBoxx indices. This latest investment follows a number of complementary bond data agreements and supports Reuters commitment to the fixed income markets."
David Mark, Chief Executive of IIC, said: "The success of our Euro, Sterling, Asian and, since last week, US bond indices and related products, demonstrates that clients demand transparent, neutral bond pricing, and the kind of objective approach to bond indices that has long prevailed in the equity market. We are glad to partner with Reuters to ensure access to this high-quality data for a wider audience."
The addition of iBoxx indices further strengthens Reuters growing portfolio in this space which includes FTSE bond indices; the European Banking Federationâs (FBE) EONIA Swap Index; ICAPâs fixed income, interest rate and foreign exchange data including exclusive BrokerTec US Treasury pricing and swaps data; LIBOR fixings, access to Telerate benchmark information including swaps data (found on Telerate Page 19901).