Thomson Reuters Taps Dealerweb for US Treasury Data

Thomson Reuters has struck an exclusive deal with Tradeweb’s Dealerweb wholesale and interdealer trading business to carry on-the-run US Treasury price data sourced from Dealerweb on its Reuters Capital Markets 19901 page of Treasuries and interest-rate swaps data.

The 19901 service, which is available via Thomson Reuters’ Eikon terminal as well as via its real-time datafeeds and intraday snapshots, also carries US dollar and multi-currency interest-rate swap data from TP Icap. The Dealerweb data replaces data previously provided by Brokertec, the interdealer fixed income platform that remains with Nex Group following the sale of the Icap business to Tullett Prebon to create TP Icap.

Jamie Grant, global head of fixed income and enterprise market data at Thomson Reuters, says in a statement that clients “will continue to have access to the same level of service and high-quality data with leading US dollar swaps data from Icap and now exclusive Dealerweb US Treasury data.”

Though the 19901 service has been active for more than 25 years, officials say this is the first time that Tradeweb’s Dealerweb data has been distributed widely to the market.

“All US Treasury order books carry the same level of pricing regardless of volumes in US Treasury activities. However, it is the US Treasury pricing combines with the swap spreads that are most critical for the industry to determine fair value in the rates market,” Grant says.