What is Centralized Pricing?
A market structure approach that gathers voluntary price contributions from market makers and distributes them equally — creating an objective, market-driven value for every US corporate bond.
Endorsed by Science, Certified by History
Corporate bond markets have long lacked the pre-trade price transparency that equity markets take for granted. Centralized pricing changes that by aggregating dealer quotes into a structured, attributed, and equally accessible data layer.
The model is simple: collect voluntary bids and offers from market makers, organize them with presentation rules that surface the best quotes, assign attribution to each contributor, and distribute the result equally to all participants.
"I think you need more transparency where bonds are trading real time… find a best bid, best offer to create increased confidence… just like you have in equities."
Reggie Browne — "Godfather of ETFs," CNBC
"Fixed income markets… lack the pre-trade price transparency that has been a feature of the equity markets for decades."
SEC Commissioner Crenshaw
Four Steps to a Transparent Market
Collect
Voluntary bids and offers are submitted by market makers — dealers who actively trade and price corporate bonds every day.
Structure
Quotes are organized using presentation rules that surface the best bid and best offer, creating an ordered book for every bond.
Attribute
Each price is assigned to its contributing dealer — creating accountability and enabling quality measurement over time.
Distribute
The resulting data is made equally visible to all market participants — buy-side, sell-side, and regulators alike.
Built for Every Participant in the Market
Asset Managers
- Accurate bond valuations
- Informed dealer selection
- Best execution documentation
- Transaction cost analysis
- Liquidity monitoring
- Regulatory compliance support
Sell Side
- Block & ETF market making
- Portfolio trading support
- Inventory management
- Risk calculations
- Trader book marking
- Quote data monetization
Regulators
- Improved price integrity
- Historical pricing records
- Market surveillance capability
- Objective reference data
See It in Action
Explore our products or reach out to learn how BondCliQ data fits your workflow.