Govpx Launches Agencypx and Web-Delivered Govpx Direct

NEW YORK--Govpx is launching Agencypx, a data service that provides up-to-the-minute prices, yields, last-trade data and Dow Jones news for US Government agency issues, and Govpx Direct, an Internet-delivered package of all of Govpx's available products.

Govpx Direct, which is powered by Moneyline technology, allows users to gain access to Govpx treasury market prices and data, Swappx data and analytics for the swaps market, the Repo Index's repo rates and information, and Agencypx over the web. Regardless of how users gain access to Govpx's products, whether through the new Internet delivery or via redistributors, the cost is the same.

Meanwhile, Agencypx, which is powered exclusively by Garban-Intercapital data, covers the entire agency yield curve and introduces last-trade prices to the agency market for the first time. In developing the product, Govpx chairman and CEO Larry Leuzzi says Govpx consulted dealers and brokers in the agency securities market. Agencypx is aimed at active agency traders, traders in other markets looking to agency markets for a dollar benchmark and those interested in offering new issues.

"If it's quoted or traded in the interdealer markets, it's in our service," says Angelo Susi, Govpx's senior vice president. Active agency issues like the Fannie Mae benchmarks and the Freddie Mac reference notes are clearly displayed at the bottom of the screen. Off-the-run issues and securities not yet issued but trading in the when-issued market are included.

The retail price for Agencypx is $165 a month--the same price as the Govpx product. Current Govpx subscribers can add Agencypx for an additional $100 a month. Leuzzi says the same quantity discounts and fee-based pricing offered for Govpx subscribers will be offered to Agencypx subscribers.

Agencypx is now available directly through the Internet or through one of Govpx's redistributors, including Bloomberg, Bridge, Reuters and Telerate. A complimentary trial of Agencypx is available until March 31 on Global Access, which is provided by Bloomberg, Bridge, Reuters and Telerate.

Leuzzi says the company is on target to launch another new product--Govex--at the end of the first quarter. Govex is a package of Govpx products that will include an enhanced Treasury product and Dow Jones news. Executable prices--through the ETC trading system powered by Garban-Intercapital--will be provided for the first time.

There are approximately 50,000 people viewing Govpx products, according to Leuzzi. That number is the sum total of all users of all products across all distribution channels.

Looking forward, Leuzzi expects that the largest portion of Govpx's revenue growth will be generated by the addition of new products through traditional channels of distribution--that is, the same users will be picking up more Govpx products. He says that the company expects somewhat greater product distribution as a result of its Internet-based offerings.