CTP Whitepaper Series: #7 Across the pond…

In previous papers, based on our analysis of 390,000,000 transaction records across all asset classes, we highlighted specific data quality issues. We also worked with a number of trade associations and bodies to promote evidence-based policy discussion and propose concrete improvements in transaction data frameworks (such as the AFM’s Principles relating to fixed income). However, one important aspect of any consolidation exercise is the insights into the market itself.

In this whitepaper we provide insights into US Treasury activity traded on EU and UK venues from 1st January 2023 – 31st March 2024. This was assisted by SIFMA, allowing us to compare issuance recorded by Treasury Direct, with activity for those same bonds on EU and UK venues.