Top Reasons to choose MTS Data

1 MTS Real-Time Data

Real-Time executable prices and trade data direct from the source

As Europe's premier facilitator for the electronic fixed income trading market, MTS Market Data delivers an un-paralleled source of pre- and post-trade transparency sourced from a trading community of over 500 counterparties and average daily volumes exceeding EUR 85 billion.

MTS Real-Time Data provides continuous pricing information throughout the trading day with depth and all associated volumes.

Profit through:

Trading advantage from consistent access to the most comprehensive source of European bond data
Unparalleled price discovery
Enhanced compliance, portfolio and risk management capabilities
Invaluable and unparalleled insight into market turnover and volatility
Confidence that decisions are based on executable prices, never indicative

Features:

Premium, real-time bond market data providing best bid/offer quotes, market depth and trade data, all complete with related volumes
Actual traded prices or executable prices that are live on the MTS platform and at which MTS participants may deal – never indicative
Independent pricing for listed bonds from the MTS interdealer market
Representative trading data – the majority of the electronic wholesale cash government bond market volume is traded on the MTS markets
The MTS market-making system encourages narrow bid/offer spreads and continuous, aggressive pricing on a wide range of structures (fixed-coupon, zero coupon, floating-rate and treasury bills from government issuers as well as asset-backed and agency securities) irrespective of market conditions
Free trial available on request

Delivery methods:

Directly through MTS (raw data feeds)
Market data vendors

If you want to find out more or test the data for yourself please contact the MTS Data department for a free trial and details of how you can access this data.

2 MTS Historical Data: Time Series Data

One of the richest sources of historical pricing and trade data in European fixed income market

As fixed income markets across Europe continue to experience unprecedented levels of volatility and uncertainty, MTS Historical Data delivers the depths and quality of historical times series market data needed to optimise research capabilities and build profitable strategies in changing trading environment.

MTS Historical Data is used by the world’s leading financial and academic institutions, recognising the ability to profit from class-leading data. The service offers four levels of depth and granularity, from daily market summary information to un-netted tick-by-tick pricing data.

Profit through:

Enhanced research capabilities through access to the richest source of European government bond tick data
Advanced knowledge of market behaviour
Enhanced capabilities to build and test trading strategies and models
Enriched studies through deep understanding of trends across the European cash and repo markets

Additional features:

All services include a full reference data file for each bond
Coverage increases as MTS continues expanding into new markets: new MTS markets are automatically included in the generation of MTS Historical Data, continually adding significant value
Free data sample available on request

Delivery methods:

Direct from MTS via daily FTP or DVD

3 MTS Historical Data: Tick-by-Tick data

As quoted, as traded information across the MTS interdealer cash markets

As fixed income trading volumes continue to shift from voice to electronic markets, the depth and granularity of data required by market participants and academics is dramatically increasing.

MTS Historical Tick-by-Tick Data provides the richest and most accurate record of market behaviour across the entire European government bond market. The service delivers a unique level of market depth and transparency with un-netted price and trade information at millisecond timestamps from over 100 counterparties trading on the MTS interdealer cash markets.

MTS invests a significant proportion of revenues into technology development to support the diverse needs of fixed income market participants, along with proven system stability and local expert customer service.

Key indicators and measurement statistics:
› Production peak messages per second: 7,100 messages
› Production peak latency: 232 microseconds
› Production average transaction round trip time: 526 microseconds

Profit through:
› Refine internal models and algorithms through access to the richest source of European government bond tick-by-tick data
› Back-test strategies with confidence by using data that matched the real-time market
› Greater transparency for risk management and compliance of proprietary positions
› Improve the evaluation of best execution policies
› Enriched studies through deep understanding of trends across the European government bond market

Features:
› Complete visibility of the un-netted MTS interdealer cash markets – as quoted, as traded
› Includes trade-by-trade data for true post trade transparency
› Millisecond timestamps offer the deepest granularity of price and trade data

Additional features:
› Full reference data file for each bond available at no additional cost.
› Coverage increases as MTS continues expanding into new markets – new MTS markets are automatically included in the generation of MTS Historical Data, continually adding significant value.
› Free data sample available on request

Delivery methods:
› Direct from MTS via daily FTP or DVD

4 MTS Indices

Benchmark fixed income indices based on real time tradable prices direct from the MTS platform

The indices are benchmarked by more than EUR 400 billion in assets under management and serve as the reference for numerous financial instruments such as exchange traded funds (ETFs), structured products, bond funds and index certificates.

The indices are calculated and maintained independently by MTS in accordance with established standards and with the benefit of user feedback. MTS has final responsibility for all rules and policies governing the index.

Transparency
The indices are calculated using real-time bond prices from over 500 unique counterparties on the interdealer MTS electronic trading system and in accordance with index rules and methodology, which MTS makes freely available.

Calculation and reporting
› Real-time bond prices from the MTS platform are available via market data vendors
› Index data, together with the underlying bond prices used for the daily fixings and the index methodology, are freely available

Together, this data allows users to replicate easily the index. This unparalleled transparency provides confidence and investor-acceptance for bond market participants issuing and managing financial products referenced to MTS Indices.

Prices
› The prices used in the real-time calculation of the indices are generated by more than 200 independent financial institutions quoting and trading on the MTS platform
› With more than 500 unique counterparties spread throughout Europe, and with average daily volumes exceeding EUR 85 billion, MTS bond prices represent the optimal price discovery in European fixed income.

Real-time and tradable
MTS Indices are calculated with 30 second updates and are also published with open and close fixings. In addition, the indices are calculated using bid-prices, whereas new bonds enter the indices using offer-prices. This replicates the transaction costs faced by funds that reproduce the indices.

MTS Indices can be tracked in a variety of ways. By utilising a transparent portfolio of bonds that is rebalanced on a fixed basis (monthly for bonds, weekly for zero-coupon bills), a fund can simply buy the bond portfolio and rebalance it when necessary.

Another option is to use a total-return swap provided by a suitable counterparty, which offers a low-maintenance solution with a high tracking accuracy. However, a highly efficient approach for both institutional and retail investors is simply to buy one of the many Exchange Traded Funds (ETFs) that track MTS Indices.

EuroMTS Government Broad Indices (EMTXg)
Performance of the eurozone government bond markets. Includes all eurozone sovereign bonds listed on the MTS platforms with more than EUR 2 billion outstanding. Composed of seven maturity band sub-indices and three country indices: MTS Deutschland Government, MTS France Government and MTS Italy Government indices.

EuroMTS Inflation-Linked Indices (EMTXi)
Performance of the eurozone’s inflation-linked sovereign debt. The index accurately represents the structure of the euro inflation-linked market.

EuroMTS Highest-Rated Government Bond Indices (EMTX3a)
Performance of eurozone government bonds from issuers with the highest credit rating (AAA).

EuroMTS Covered Bond Indices (EMTXc)
Measures the performance of the euro-denominated covered bond market. Includes German Oeffentliche and Hypothekenpfandbriefe, French Obligations Foncières, Spanish Cedulas, Irish ACS and UK bonds backed with mortgages and/or public loans.

For more details on MTS Indices and for a full list of the indices available, please visit mtsindices.com

5 MTS References Prices

Benchmark pricing data for bonds traded on the MTS platform

MTS Reference Prices are the official open and close prices calculated exclusively each day by MTS.

Profit through:
› Confidence that prices come direct from the most comprehensive source of benchmark European government bond prices
› Effective management of risk and portfolios
› Enhanced strategic trading decisions through access to best data available
› Maximised analytical capabilities

Features:
› Official open and close prices calculated by MTS based on benchmark data from the MTS platform
› Covers all European government bonds and bills traded on MTS
› Calculated at 11:02 CET as an open fixing and at 16:02 CET as a close fixing
› Calculated using actual executable prices from the MTS platform, ensuring results are of the highest quality
› Free trial available on request

Delivery methods:
› Directly through MTS via FTP

6 MTS Reference Data

Benchmark reference data for all bonds traded on the MTS platform

MTS Reference Data delivers accurate, diverse and trusted benchmark information for all bonds traded on the MTS platform, which covers the entire European government, quasi-government and covered bond market.

Sourced directly from the MTS platform, the data guarantees complete and accurate coverage of the entire market.

Profit through:
› Access to the most comprehensive source of European government bond reference data
› Bespoke data to support trading, back office and accounting functions
› Effective portfolio and risk management functions as well as improving regulatory and client service requirements

Features:
› Sourced directly from the MTS platform
› Provides information relating to all bonds listed on MTS, including ISIN, issuer details, coupon and payments details and frequencies, MTS market, maturity and many others
› Free trial available on request