How are bond prices determined?

Bond prices are determined by using inputs from a variety of sources that are either aggregated to calculate bid/mid/offer price or fed into a dynamic model to produce a price validated against the parameters for 2.3+ million instruments daily.

How can you find out corporate bond prices?

To find out the price of a corporate bond, you need access to bond pricing data, as corporate bonds are over-the-counter (OTC) securities and prices are not readily available on exchanges. S&P Global Market Intelligence provides independent bond pricing services.

What is S&P Global Market Intelligence bond pricing?

S&P Global Market Intelligence prices fixed income instruments which are traded over the counter (OTC). With local expertise and access to the latest trade and indicative levels, S&P Global Market Intelligence can provide pricing transparency on 2.7mm+ corporate, municipal, securitized, and sovereign bonds.

What is fixed income reference data?

Fixed income reference data provides terms and conditions on individual fixed income securities. The service provides granular information at the sector, issuer, and bond level along with details about coupon, maturity and sector.

How to comply with the SEC Rule 2a-5?

The SEC Rule 2a-5 establishes requirements for fund boards' obligation to determine fair value of fund investments in good faith. S&P Global Market Intelligence can provide solutions that help provide transparency around pricing processes and methodologies on Fixed Income and Derivatives valuations.

Bond Pricing Services

Enhance your business strategy with independent and transparent bond pricing data and liquidity data to support trading, investment decisions, and risk management.

The ever-evolving regulatory and accounting environment, along with investors’ intense focus on transparency continues to drive demand for high quality independent bond data for use within price discovery, valuations and risk management processes. Given the vast number of bond issues in the market, sourcing bond pricing information can prove difficult.

With our independent bond pricing services, you get transparency and liquidity data on corporate, government, sovereign, agency and municipal bonds. We use inputs from multiple sources that are either aggregated to calculate composite levels or fed into a dynamic bond pricing model to produce a price validated against the parameters for 2.3+ million fixed income instruments daily.

The SEC Rule 2a-5, which goes into effect in September 2022, provides a framework for fund valuation practices that fund boards can use to create processes to determine fair value of investments in good faith. We now provide an online portal, PVR Source which hosts due diligence documentation, methodology documents, backtesting reports, aggregated challenge statistics and other relevant documentation to help you meet the compliance requirements for the new rule.

Download Pricing and Reference Data brochure
Download Reference Data: Fixed Income factsheet
Download Pricing Data - Bonds factsheet
Download Live Bond Pricing Data factsheet
Download Dynamic Tolerance Data brochure
Download Liquidity Navigator factsheet
Download ESG Bond Pricing and Reference Data factsheet

Fixed Income Outlook: Navigating recession and interest rate hikes in 2023

PVR Source: The online portal for SEC Rule 2a-5 compliance’

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Bond Pricing Services FAQ

How are bond prices determined?: Bond prices are determined by using inputs from a variety of sources that are either aggregated to calculate bid/mid/offer price or fed into a dynamic model to produce a price validated against the parameters for 2.3+ million instruments daily.
How can you find out corporate bond prices?: To find out the price of a corporate bond, you need access to bond pricing data, as corporate bonds are over-the-counter (OTC) securities and prices are not readily available on exchanges. S&P Global Market Intelligence provides independent bond pricing services.
What is S&P Global Market Intelligence bond pricing?: S&P Global Market Intelligence prices fixed income instruments which are traded over the counter (OTC). With local expertise and access to the latest trade and indicative levels, S&P Global Market Intelligence can provide pricing transparency on 2.7mm+ corporate, municipal, securitized, and sovereign bonds.
What is fixed income reference data?: Fixed income reference data provides terms and conditions on individual fixed income securities. The service provides granular information at the sector, issuer, and bond level along with details about coupon, maturity and sector.
What is the SEC Rule 2a-5?: The SEC Rule 2a-5, which goes into effect in September 2022, provides a framework for fund valuation practices that fund boards can use to create processes to determine fair value of investments in good faith.
How to comply with the SEC Rule 2a-5?: The SEC Rule 2a-5 establishes requirements for fund boards' obligation to determine fair value of fund investments in good faith. S&P Global Market Intelligence can provide solutions that help provide transparency around pricing processes and methodologies on Fixed Income and Derivatives valuations.

Why S&P Global Market Intelligence bond pricing services?

Data Integrity

Rules-based clearing algorithms and audits ensure reliability

Flexible Availability

Multiple intraday snaps, as well as select live pricing available

Transparency

Full transparency on pricing sources and methodology

Liquidity Insight

Independent liquidity measures and scores provided

Dedicated Support

Immediate and direct access to the expert valuations team

Seamless Distribution

Access data via SFTP, Portfolio Valuations or our Price Viewer web platform

Interested in our independent fixed income pricing services?

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Thought Leadership

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Experts

Chris Fenske

Chris's research has been cited in Barron's and he frequently presents at investment forums on the topic of assimilating alternative data into the securitized, municipal, and corporate bond investment processes.Prior to joining S&P Global, he was a senior vice president at Halcyon Asset Management, where he was a senior trader and research analyst managing a portfolio focused on investments in non-agency RMBS, collateralized loan obligations, auto, synthetic indices, and other asset-backed securities for a $900 million distressed securitized products fund. He began his career at Credit Suisse as a fixed income research analyst on the #1 ranked mortgage-related ABS research team by Institutional Investor Magazine and later became a trader of distressed MBS and credit default swaps on ABS.Chris holds a Bachelor of Science in Biochemistry from Binghamton University.

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Andrew Rogers

He is responsible for product and commercial strategy for the award-winning S&P Global Pricing and Reference Data business in Europe. In addition, Andrew has global responsibility for the alliance partner strategy across Pricing, Valuations and Reference Data vertical within the Financial Services business. His areas of expertise include debt and equity origination, credit derivatives, equity derivatives, stock loan/repo and change management. Andrew joined S&P Global in 2013 to run the RED™ business and has expanded his role and developed an appetite for delivering market-leading solutions assisting market participants on topics, including independent pricing, risk management and regulatory solutions. Andrew frequently speaks at industry conferences and represents S&P Global in multiple business forums and interacts with global regulators. He has been seconded by industry bodies and liaised with global regulators on the topic of data standards. Prior to joining S&P Global, Andrew spent two decades at three of the world's largest investment banks where he held multiple roles within the operations and business functions.

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Krishna Shetty

Krishna joined S&P Global (now part of S&P Global) in 2010 and heads business development for Americas GSAC (Government, Sovereign, Agency and Corporate) evaluated bonds pricing. He is responsible for product and commercial strategy for the Americas GSAC bond pricing business. Prior to his current role, Krishna led client management and pricing operations for Americas bond and loan pricing, where he joined the team at an early stage to build and grow the business. S&P Global's pricing service provides hourly and end of day evaluations and helps value constituents for some of the largest fixed income indices.Krishna began his career at Fidelity Investments and later worked at Overbrook Management Corporation, where he analyzed prospective private equity and venture capital investments. He earned an MBA with a dual concentration in Finance and Information Systems from Fordham University's Gabelli School of Business, and a BA in Business Management from Clark University in Worcester, MA. In his spare time, Krishna co-heads the New York chapter of Lend a Hand India, a charity that focuses on developing vocational skills for 200,000 kids in rural India.

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Karthick Chandrasekaran

Karthick Chandrasekaran is responsible for product and commercial strategy for the award-winning S&P Global Pricing and Reference Data business in Europe. His areas of expertise include Fixed Income pricing and analytics, Financial Analysis, product development. Karthick joined the S&P Global Market Intelligence London office in 2020.Before joining S&P Global, Karthick was a product manager for Bloomberg's evaluated bond pricing business and read Financial Analysis & Fund management from the University of Exeter.

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Bond Pricing Services

Enhance your business strategy with independent and transparent bond pricing data and liquidity data to support trading, investment decisions, and risk management.

Bond Pricing Services FAQ

Why S&P Global Market Intelligence bond pricing services?

Data Integrity

Flexible Availability

Transparency

Liquidity Insight

Dedicated Support

Seamless Distribution

Thought Leadership

Unpacking the U.S. SEC Rule 2a-5

New SEC Rule on Fair Value Determination Needs Careful Consideration

Financial Inclusion Impact Investing – A New Paradigm

Sector Curves for Valuation

Deciphering SEC Rule 2a-5: Getting ahead to comply

Dynamic Tolerance Data – Improving the Efficiency of the Daily Pricing Process

Credit Curves - Crucial in a Crisis

Connect with our full range of covered products

Securitized Products

Municipal Bonds

Corporate & Sovereign Bonds

Experts

Chris Fenske

Andrew Rogers

Krishna Shetty

Karthick Chandrasekaran

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