NEW YORK CITY—Trepp LLC said Friday it had introduced a free tool to help qualified institutional buyers in pricing bonds. Known as TreppTrade Quick Analysis, it's been devised to enable participants to calculate CMBS bond cashflows under pre-defined assumptions such as prepayments and other factors.
“Trepp's focus is to ensure that all qualified market participants can agree upon bond prices, and therefore have access to the same model for comparison, irrespective of their internal product platform,” says Annemarie DiCola, the company's CEO. “By offering that capability at no cost, we continue a 16-year tradition of delivering trading-quality cashflows as a service to the market.”
Previously, Trepp provided cashflows at no charge to Bloomberg users via the Yield Table function on their terminals. However, earlier this year Bloomberg to cease making Trepp data available to its users effective April 1.
Accordingly, TreppTrade Quick Analysis is being offered to qualified institutional buyers through the TreppTrade website. Along with accessing tranche-level Trepp cashflows, users are able to perform price/yield analysis utilizing live Treasury and swap rates. The company says its modeling and cashflows are also accessible through a large number of other trading and risk management platforms, as well as via third-party platforms hosted by several members of the broker dealer community.
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