What is "Centralized Pricing"?

Endorsed by science, certified by history

All financial markets contain pricing information, however, there is a historical blueprint for transforming unstructured bids and offer into a reliable data source for determining market values.

Centralized pricing has been established in equity, FX, and TSY markets through the following approach:

• Gather voluntary price contributions directly from market makers
• Organize pricing data into a montage (a book) with rules on presentation (ex: best bid and best offer on top)
• Attribute each price to the contributing market maker
• Present the data equally to all market participants (everyone sees the same pricing information)

Through this process, BondCliQ has created an objective, market-driven value for every US corporate bond.

Experts have been asking for a solution

CNBC: 'Godfather of ETFs' says this is what the bond market needs.

"I think you need more transparency where bonds are trading real time, [to aggregate] where the prices are at and find a best bid, best offer [so that] there's a lot of increased confidence where bonds are trading, just like you have in equities" (Reggie Browne)

SEC: Recommendations Regarding COVID-19 Volatility: Exchange Traded Products

SEC Commissioner Crenshaw Speech: Fixed Income Spring Roundtable

"However, fixed income markets still largely lack the pre-trade price transparency that has been a feature of the equity markets for decades. While there are some quotation data available from dealers and electronic venues, smaller dealers are less likely to have access to these data or the ability to consolidate them effectively, and they are generally not visible to the retail customer and therefore cannot be used to help the customer negotiate a better price with its dealer."