TradeWeb Readies FASB- Compliant Trade Data
FAS 157 requires any company that reports financial statements in the GAAP accounting standard to determine and report the fair value of their assets, categorized according to a three-level hierarchy that distinguishes the level of difficulty involved in valuing the assets. Tradeweb believes that since its clients transact $300 billion daily on average across 18 markets, the transaction prices from Composite Marks qualify as Level 1 inputs, which are defined as quoted prices from markets
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