Market Data is used for pricing a transaction based on market rates and spreads collected from the inter-dealer broker market as well as interest rate and commodity exchanges. HedgeStar uses a number of market data sources for our valuation, fair value, and hedge accounting services. A majority of our market data is sourced from Thomson Reuters and uploaded automatically via RIC codes. We also source market data from specialized providers that cover various municipal, sector, and national markets.
Markets & Sectors
Market Data Timing
For any exchange traded market data, only settlement prices are sourced via Thomson Reuters from the applicable exchange. This market data includes any exchange traded futures and options for any of the applicable asset classes and are sourced when the settlement prices are available.
In addition to OTC and exchange traded market data, HedgeStar also sources a variety of other market data from specialized vendors, associations, central banks, agencies or governments. These rates are sourced when they are published by the applicable market data provider.
At 3:00 PM EST (GMT -5), HedgeStar sources most of our over-the-counter (OTC) market data via Thomson Reuters. We use this data to build our end of day (EOD) curves and market data snapshot. The timing of our market data sourcing is in line with North American market convention.
The types of OTC market rates that are sourced include:
IR cross currency rates