Fenics Market Data Announces Launch of New Data Service for AUD Interest Rate Swaps

Fenics Market Data, a leading global provider of market data owned by BGC Group, Inc., announced the launch of a new data service for Australian Dollar (AUD) interest rate swaps (IRS), aiming at improving market transparency and reducing the risk of mispricing.

The newly launched data services will provide a comprehensive market view comprising of tradeable prices, directly sourced from market participants.

"Transactions such as Interest Rate Swaps, that are priced using a narrow, single venue price reference source, are under scrutiny from regulators concerned at mispricing for end user clients. The onus is on industry players to ensure that their price referencing sources are reflective of the whole market and not a singular view," said Dr. Keith Nicolle, Product Strategist at Fenics Market Data.

The data specialist firm collaborated with participants from various markets to develop a unique service. This service is currently the sole composite screen available for AUD IRS, incorporating real-time, executable inputs from multiple market participants. The service is available on Bloomberg (FMDS<GO>FABD).

Rich Winter, Global Head of Market Data and Information Analytics at Fenics Market Data, commented: "This is a transformative new service. By working together with market participants, we are helping our clients meet their regulatory needs. The power of harnessing extensive market contributions offers traders, risk and compliance officers, and managers alike, reassurance that the referencing source used by them for client trades is the broadest and most accurate reflection of real, observed prices in the market."