TRADEWEB MARKETS INC. Tradeweb and FTSE Russell announced that they have launched Tradeweb FTSE U.S. Treasury Closing Prices, extending their combined offering of next generation fixed income pricing, which can be used in index trading products. Similar to the existing Tradeweb FTSE closing prices for UK Gilts and European Government Bonds, these U.S.Treasury closing prices incorporate trading activity from Tradeweb's electronic platform, which results in more robust benchmark pricing. Tradeweb FTSE U.S. Treasury Closing Prices utilize an enhanced methodology, which facilitates the calculation of bid and offer prices, capturing transaction costs based on executable pricing quotes collected through the Tradeweb platform.
This is in addition to mid prices, which are produced for all asset classes. The pricing data set features comprehensive coverage for a range of security types including U.S.Treasury notes and bonds, bills, strips and Treasury Inflation-Protected Securities (TIPS), with both a 3:00 and 4:00 p.m. (New York) snap time. The extension of closing pricing to the U.S.Treasury markets is an important step in further expanding benchmark pricing capabilities across a comprehensive range of fixed income securities, importantly including USD-denominated credit securities, for which prices are largely underpinned by U.S.Treasury valuations.
The enhanced methodology used for Tradeweb FTSE U.S. Treasury Closing Prices has been thoroughly tested to arrive at an optimal approach to delivering robust, algorithmic and reliable pricing. In the near term it plan to incorporate this methodology into its UK Gilt and Euro Government closing prices, including the addition of bid and offer prices. Trusted reference price data is critical for financial firms to manage investment portfolios, evaluate the fair value of securities, perform compliance, and satisfy general accounting standards.
Tradeweb and FTSE Russell are committed to the continued expansion of their benchmark pricing coverage, and the incorporation of these prices throughout the investment process.
