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22/02/2025

US Repo, Treasury Clearing & Bond Data Solutions

Name: US Repo, Treasury Clearing & Bond Data
Creator: TraditionData
Published: 2024-10-29
License: https://www.traditiondata.com/terms-conditions/

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Introduction Why TraditionData Services Use Cases Contact FAQ

Monitor the impact of SEC regulatory changes with real-time data and analytics

With the expansion of central clearing in US Treasuries on the horizon, having access to timely and accurate Treasury and Repo data is critical. These regulatory changes by the SEC come into effect in 2025 for certain cash US Treasury security transactions, and the middle of 2026 for US Treasury repos. TraditionData offers comprehensive data solutions that help you navigate these changes and optimize your trading and risk management strategies.

Real-time data

Access to market data with real-time streaming & hourly snaps.

Extensive coverage

Over 360 U.S. Treasury securities, including bonds and notes.

Accurate pricing

Accurate and executable prices sourced directly from leading market liquidity providers.

Historical data

Access up to 7 years of historical data for comprehensive analysis.

WHY TRADITIONDATA

Why Choose TraditionData for Repo & Treasury Clearing?

With nearly 40 years in the market, our data solutions are trusted by our multi-dimensional client base which includes Central Banks, Regional Banks, Asset Managers, Hedge Fund Managers and Corporates.

The Securities and Exchange Commission’s is driving reform in the US Treasury market, meaning it is imperative to have accurate and timely Treasury and Repo data to navigate these regulatory changes and best position yourself in this changing environment.

TraditionData provides you with Treasury & Repo data direct from Tradition, one of the world’s largest interdealer brokers in over-the-counter financial and commodity related products.

USD REPO DATA

Comprehensive coverage across General Collateral O/N Repo for on-the-runs, old and old-old U.S. Treasuries, Term Repo, When-Issued and Specials

The TraditionData Repo Package includes hourly snaps from 7:00 am to 5:00 pm EST for prices, and weighted averages with coverage including general collateral O/N repo for on-the runs, old, and old-old U.S. Treasuries, term repo, when-issued repo and specials (based on market conditions).

By offering 12 snaps a day, with 3 in the first hour of trading, our data provides you with a view into the busiest portion of the repo trading session: in the early morning.

Four 30 minute snaps from 7:00 a.m. to 9:00 a.m. EST
Hourly snaps thereafter until 5:00 p.m. for repo bid and offer prices
Weighted average of trades from 7:00 a.m. to 10:00 a.m. EST

Repo collateral includes:

General collateral O/N repo cash and reg settlement for GCF, GC, <10yr GC, TIPS GCF/ON, MBS, ARMS, and GNMA collateral.
Term repo for General Collateral, O/N & Term Specials, and Spread to SOFR

US TREASURY DATA

The U.S. Treasury market is central to the global economy, providing a benchmark for securities pricing and serving as key collateral in repurchase agreements. Treasury clearing and repo data are vital for assessing liquidity, managing risk, and ensuring smooth market operations.

Tradition offers real-time streaming, hourly and end-of day data for Top of Book.

360+ total securities/instruments
7 On-The-Run securities/instruments
When-Issued Treasury Securities
Off-The-Run Breakdown:
- 80+ 30-year Treasury Bonds
- 15+ 20-year Treasury Bonds
- 40+ 10-year Treasury Notes
- 20+ 2-year Treasury Notes
- 30+ 3-year Treasury Notes
- 50+ 5-year Treasury Notes
- 80+ 7-year Treasury Notes
- 10+ T-Bills
Executable, not indicative prices, sourced directly from Tradition’s Global Fixed Income business and market-leading liquidity.
Real-time streaming for Top of Book. Delivered direct via FIX API.
Hourly Snaps – Top of Book. Delivered via SFTP.
End of Day Snaps – Top of Book. Delivered via SFTP.
Historical data up to 7 years
The Gold Standard for data reliability.

Top of Book

Top of Book (TOB) provides the highest bid and lowest ask, with size, for On-The-Run and Off-The-Run bills, notes and bonds across the entire U.S. Treasury curve. TOB provides traders and investors with crucial information about current market sentiment and liquidity for U.S. Treasury securities, helping them make informed decisions about buying or selling.

Product Name

FII-BND-AME-UST

US Treasury data

Does TraditionData cover all tenors of US Treasury bills, notes and bonds?

How many files are available per day?

11 files per day from 7am-5pm EST
Each file contains data for all on-the-run instruments, plus 350+ off-the-runs.

1 file per day at 5pm EST
Each file contains data for all on-the-run instruments, plus 350+ off-the-runs.

N/A

What is the timestamp precision for the datasets?

Minute

Millisecond

When are files delivered?

On the hour, from 7am-5pm EST and delivered downstream immediately as they are generated.

5pm EST and delivered downstream immediately as they are generated.

Real-time via FIX API

What is the source of the data?

BondsPro ATS via bonds.com

Are sample files available?

Yes, please contact us.

What historical data is available?

7 years (2017)

What is the file format of the historical data?

.csv format

US TREASURY DATA

Use Cases

Use Cases for Repo & Treasury Clearing Data

Real-Time Pricing Data: Market participants must access accurate and real-time U.S. Treasury pricing data to comply with reporting requirements. This data helps accurately report transaction prices to regulatory bodies.
Repo Rate Transparency: Accurate repo rate data is essential for reporting the terms and conditions of repurchase agreements, ensuring all transactions are transparent and comply with regulatory standards.

Counterparty Risk Assessment: Reliable pricing data for U.S. Treasuries helps institutions assess the value of collateral used in repos, enabling better management of counterparty risk.
Regulatory Compliance: Comprehensive data on repo rates and U.S. Treasury prices supports compliance with the new SEC mandate by ensuring all required information is available for regulatory reporting and audits.

Accurate Collateral Valuation: Up-to-date U.S. Treasury pricing data ensures that collateral used in repo transactions is accurately valued, which is critical for maintaining the integrity of secured lending.
Collateral Optimization: Institutions can optimize their collateral by using real-time pricing data to select the most appropriate securities for their repo agreements, thereby improving liquidity management.

Liquidity Analysis: Access to comprehensive repo and U.S. Treasury data allows institutions to analyze market liquidity, helping them make informed decisions about entering or exiting repo agreements.
Stress Testing: Accurate pricing data supports stress testing scenarios by providing realistic inputs for various market conditions, ensuring institutions can maintain liquidity during periods of stress.

Market Surveillance: Real-time and historical pricing data for U.S. Treasuries and repo rates supports market surveillance activities, helping to detect and prevent market manipulation and ensure a fair trading environment.
Anomaly Detection: By monitoring pricing data, institutions can detect anomalies or unusual trading patterns that may indicate potential market disruptions or compliance issues.

Investment Strategies: Accurate and timely pricing data helps in formulating investment strategies by providing insights into market trends and the relative value of U.S. Treasuries.
Repo Market Strategies: Understanding repo rate trends and pricing dynamics allows institutions to develop strategies for leveraging repo agreements to manage funding needs and optimize returns.

Benchmarking: Institutions can use U.S. Treasury pricing data to benchmark their repo transactions against market rates, ensuring they are achieving competitive terms.
Performance Metrics: Access to detailed pricing data enables institutions to measure the performance of their repo and U.S. Treasury trading activities, facilitating continuous improvement.

Client Transparency: Providing clients with accurate and timely pricing data for U.S. Treasuries and repo agreements enhances transparency and builds trust in the institution’s trading and risk management practices.
Detailed Reporting: Institutions can generate detailed reports for clients that include pricing data, transaction details, and compliance with the new SEC mandate, ensuring clients are well-informed.

Automation and Integration: Reliable pricing data can be integrated into trading and risk management systems, automating processes such as trade execution, collateral management, and regulatory reporting, thereby increasing operational efficiency.
Data Consistency: Ensuring consistent and accurate data across systems helps reduce errors and streamline operations, particularly in compliance and reporting functions.

Get Started with Our Repo & Treasury Clearing Data Solution

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FAQ

Frequently Asked Questions

The SEC’s new mandate requires comprehensive data on U.S. Treasury and repo clearing to enhance transparency and manage financial counterparty risk.

Within the last 9 months, the SEC has taken significant steps through two new rules that will have a significant impact on the U.S. Treasury and Repo Markets.

The U.S. Treasury and Repo clearing market will dramatically increase the amount of daily U.S. Treasury clearing activity processed through the Fixed Income Clearing Corporation (FICC).
New requirements will increase the number of new FICC members

March 31, 2025: Clearinghouses must have their policies, procedures, and access in compliance with the new rules. In other words, they have to be ready for the mandates even though the mandates haven’t kicked in yet.
December, 31: 2025: The Treasury clearing mandate goes into effect as explained above.
June 30, 2026: The repo clearing mandate goes into effect

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Americas:

+1 212 978 1950

DataSalesAmericas@tradition.com

Asia Pacific:

+65 6533 7976

DataSalesAsia@tradition.com

Europe, Middle East & Africa:

+44 (0)20 7198 5959

DataSalesEMEA@tradition.com

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