CanDeal and IHS Markit partner to set new industry standard

By Edlyn Cardoza

CanDeal, a leading provider of Canadian financial markets, data, and information services, is integrating its proprietary market data into the IHS Markit platform, providing a new level of fixed income pricing accessibility for the Canadian market. With the unparalleled accuracy of dealer-sourced pricing that CanDeal Data & Analytics (DNA) provides, this partnership will directly address one of the most pressing issues facing Canadian capital markets.

Leveraging the most up-to-date data for Canadian fixed income market participants has been a lingering challenge for decades due to insufficient accessibility solutions. By integrating CanDeal’s 1 pm, 3 pm, and 4 pm snapshot pricing, IHS Markit customers will access market datasets and more accurately and efficiently make better-informed pre and post-trade decisions while mitigating market risk.

“Canadian institutions need tools that are tailored for their market. Providing CanDeal’s pricing alongside IHS Markit’s evaluated bond pricing will give customers the right tools for their valuation, risk management and trading needs from a single provider,” said Krishna Shetty, Executive Director, Fixed Income Business Development at IHS Markit. “We are excited to partner with CanDeal to provide additional coverage and transparency to our Canadian customer base and those trading in the Canadian market.”

“There’s a shift taking place in Canadian fixed income markets that is being driven by greater access to data and broader adoption of analytics tools,” said Robin Hanlon, Director, Product Marketing & Sales at CanDeal Data & Analytics. “A major player like IHS Markit leveraging CanDeal’s fixed income data will help accelerate this positive momentum and continue to bring the efficiencies to Canadian bond markets that participants have been seeking for years.”

CanDeal DNA delivers a range of pricing services and performance analytics that it creates daily to address the needs of Canadian buy- and sell-side traders, including composite pricing, evaluated bond pricing, and independent pricing verification (IPV) services for financial reporting. Since its launch in 2020, CanDeal DNA has been expanding its fixed income data pool to give unrivalled pricing and liquidity to Canada’s bond market landscape, including its acquisition of CIBC’s fixed income business in 2021.

Recently, IBS Intelligence reported that IHS Markit, a world leader in critical information, analytics, and solutions, had announced a partnership with Financial Recovery Technologies (FRT), a leading provider of securities class action recovery services to the investment community.