Thomson Reuters has launched AskTRPS, an enhancement to Thomson Reuters Pricing Service (TRPS) for fixed income. This independent price challenge tool provides fixed income professionals with a rapid and transparent solution to submit and resolve evaluated pricing challenges directly via Thomson Reuters DataScope Select, its strategic global data delivery platform for non-streaming content.
AskTRPS enhances the ability to meet new Public Company Accounting Oversight Board, SEC and other current reporting requirements for fixed income pricing.
Utilizing the tool, DataScope Select clients can create customized reports for boards and auditors on their price challenges including the number of challenges, asset class breakdowns, percentage changes and directional movement. AskTRPS also offers simplified client reporting on price challenge metrics and improved communication features.
In developing the price challenge solution,TRPS canvassed its large client base of asset managers, mutual funds, custodian banks, mutual fund administrators and risk managers, who use the DataScope Select repository of over 2.5 million fixed income securities, derivatives and bank loans. The resulting tool will also help to streamline communications and better address clients’ regulatory reporting needs.
“At a time of rising market volatility and increasing regulatory oversight, our price challenge mechanism answers a clear need in the fixed income community,“ says Jayme Fagas, global head for Valuations & Transparency for Thomson Reuters Pricing and Reference Services. “With AskTRPS, our DataScope Select customers tell us they now have the enhanced single-source transparent solution that only a completely independent third party evaluated pricing source can provide.”
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