Trepp Launches Bond Pricing Product TreppTrade
Guelda Voien March 27, 2014, 12:06 p.m.
Commercial real estate information company Trepp launched a new tool which tracks bond cashflow and price yield calculations, called TreppTrade Quick Analysis today, Mortgage Observer has exclusively learned. TreppTrade is accessible via trepptrade.com as well as proprietary trading and risk management platforms used by the broker dealer community, according to a representative for Trepp.
TreppTrade should make bond pricing easier, as it allows users to analyze cashflows under various circumstances using real time data from the United States Treasury and the ICE Benchmark Administration, which reports Libor, upon which swap rates are based. A user can pencil in certain assumptions—a prepayment penalty, or other factors— and get relevant bond pricing data instantly.
The product was developed in response to a decision by Bloomberg L.P. that Trepp data would no longer be available on Bloomberg terminals, effective April 1. A source told Mortgage Observer that Bloomberg dropped Trepp’s data because they have developed their own CMBS platform that competes with Trepp. A Bloomberg representative did not respond to a request for comment.
“Trepp’s focus is to ensure that all qualified market participants can agree upon bond prices, and therefore have access to the same model for comparison, irrespective of their internal product platform,” Trepp CEO Annemarie DiCola, said in a statement provided to Mortgage Observer. “By offering that capability at no cost, we continue a 16-year-tradition of delivering trading-quality cashflows as a service to the market.”