Fidelity Investments has begun using the evaluated pricing service from Bear Stearns affiliate PricingDirect to provide 4pm fixed-income prices, Inside Market Data has learned.
A source familiar with the deal says the Boston-based buy-side giant is using the service for pricing domestic mortgage-backed securities. PricingDirect went live as the firm's primary source of data for these instruments last month, the source says.
According to this source, PricingDirect replaces a 3pm snapshot servic
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