What We Deliver

We pool and package OTC as well as other third-party pricing, transaction and reference data. This provides clients with unique insight into their trading activity and market context for use in modelling, risk and compliance

CanDeal

Reference Pricing Services

Unique
Insights

Security
Master

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REFERENCE PRICING SERVICES

 

Our Fixed Income Reference Pricing Service offers valuations for a universe of over 80,000 Canadian fixed income securities at multiple snap times throughout the day.

Our unique partnership with the trading desks at the leading Canadian banks and dealers along with our proprietary quantitative techniques ensure that our Reference Prices are the most accurate representation of the Canadian wholesale fixed income market – contributed, cleansed and validated daily.

CanDeal DNA uses dealer-sourced pricing and terms and conditions data to provide industry practitioners with best-in-class independent, accurate and transparent pricing, enabling clients to better monitor, understand and manage their market exposure and optimize their models and analyses.

Rely on the most accurate OTC pricing – contributed, cleansed and validated daily.

 

  • Live streaming composite prices for securities traded over the CanDeal Markets platforms
  • Composite prices for all securities quoted by the major dealers at regular timestamps throughout the trading day
    • Advanced validation algorithms applied consistently on all submitted quotes
    • Ranking hierarchy applied to composite prices based on the number & quality of contributions, as well as tracking prices to trade activity/security
    • Proprietary methodology determines whether contributed quotes are anchored in observed trade data
  • Evaluated prices
    • Our proprietary evaluated pricing engine ensures accurate and timely pricing on over 80,000 Canadian fixed income securities each day
    • Coverage includes rates, credit and asset-backed instruments, including NHA mortgage pools, money markets, strips, municipals, and real return bonds
    • Our models are specifically designed to reflect a trader’s view of the market and have been designed in collaboration with Canada’s leading traders
  • Dealer Margin Requirements for accurate, comprehensive minimum margin requirements calculated daily for over 80,000 Canadian fixed income securities
  • Wealth Management & Retail Clients solution to manage market exposure, make better decisions and meet Know Your Product requirements

See more information about the CanDeal DNA Reference Pricing Service.

 

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UNIQUE INPUTS → UNIQUE INSIGHTS

Our data advantage is not our only advantage. Our unique data sourced from Canada’s leading banks and dealers along, with our proprietary methodologies and processes, have enabled us to create the industry standard for pricing Canadian fixed income securities.

  • Analytics Suite: Our Analytics product suite mines the data for further analysis, modeling and insights. Using our cleansed, validated and enhanced data sets, we deliver proprietary liquidity metrics and other unique insights into the Canadian market, continuously and accurately.
  • CanDeal Curves: Our comprehensive curve offerings provide additional insight into Canadian fixed income markets. Created from our Performance Filtered Composite pricing and used in our methodologies for our Evaluated Pricing, CanDeal Curves are updated 3X daily and provide unparalleled accuracy and coverage.

 

SECURITY MASTER PRODUCT

The CanDeal DNA Canadian Fixed Income Security Master product is the premier solution that underpins CanDeal DNA’s Reference Pricing and Analytics Services which have fast become the industry standard for Canadian securities. Our market expertise, quality processes and best practices enable unparalleled accuracy and timeliness.

  • Enriched through rigorous data grooming, completion processes and application of Canadian market conventions and classifications
  • New issue details as shared by syndication and origination desks at the major dealers
  • Hard-to-find instrument detail and coverage for illiquid securities
  • A necessity for trading, risk, finance, clearing and settlement, instrument selection, analytics, portfolio holdings and other other applications

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TRADING PRODUCTS

As well as the expansive set of pricing services, we deliver a subset of Canadian fixed income data generated directly from the CanDeal Markets trading platforms:

 


  • CanDeal Spreadsheet Add-in
    a spreadsheet plug-in that delivers real-time prices directly to your desktop

  • CanDeal Trading File
    a file containing details on your firm’s executed trades of the day

  • CanDeal Pricing Feed
    route data to internal systems using a real-time proprietary data feed

  • CanDeal Compliance File
    (buy-side only)
    a detailed list of every RFQ submitted by your firm

  • CanDeal Daily Pricing File
    a snapshot view of daily
    CanDeal prices

  • CanDeal Historical Data
    customized historical data sets and trade blotters – more than 10 years of historical data is available

BEST PRACTICES

With CanDeal DNA, you have applied best-in-class industry standards that will ensure that you meet the most rigorously regulatory and internal compliance thresholds.

  • Standardized industry inbound formats
  • Consume all primary dealer pricing, trade and reference data
  • Validate semantic and syntactic validation algorithms
  • Enrich with security master reference data and apply standards such as short names
  • Categorize and classify to ensure domestic market conventions are addressed
  • Align composite pricing to mitigate any gaps to trade tracking
  • Apply a ranking hierarchy to composite prices based on contributor quorum and trade activity
  • Generate curves by Issuer Bond types, Sectors and Ratings to generate evaluated prices

  • Leverage IOSCO benchmark principles for pricing securities such as:
    • Extensive arm’s length manufacturing and independent data governance applied throughout the pricing process to ensure no conflict of interest
    • Quality and coverage reports provided to contributors
    • Industry Committee reviews, input and feedback on methodologies
    • Hierarchy of rules to highlight observations based on trades, liquidity, pricing observations
    • Transparency of pricing methodologies
    • Direct from source Terms & Conditions to ensure accurate bond reference data attributes and application of domestic market conventions
    • Strong client support and tracking to manage price challenges

Request a demo
Read our FAQs, access our Statement of Compliance of IOSCO benchmark principles, and learn more about CanDeal DNA’s Price Challenge Procedures.

OUR PARTNERS

CanDeal DNA pricing is also available via our partners’ solutions. Click to request more information.


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