Repo, cash deposits, CDs, commercial paper, & implied yields

Money Markets & Repo Data

Our real-time and historical money market pricing is derived from market‑leading liquidity pools, sourced directly from TP ICAP’s brokerage network.

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Money markets data sourced from:

The Parameta Solutions difference

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Repo data from key liquidity pools
Sourced from TP and ICAP money market desks and other leading sources, our feeds offer data from some of the world’s leading liquidity pools.
Extensive coverage
We provide repo, deposit, commercial paper, certificates of deposit and reference rates data across 40+ currencies from nine global desks, covering both conventional and Islamic instruments.
Real-time & 15+ years of historical data
We provide real time, intraday snaps and end-of-day data as well as historical data dating back to 2010 to support with back-testing strategies.
Access to Islamic money market instruments
We provide MYR‑denominated Islamic money‑market data including Shariah‑compliant liquidity products used for short‑term funding and cash management.
Data delivered how & where you need it
Seamless and secure data delivery sent direct, via third‑party cloud providers or through your preferred platform.
Strong data governance
Our data goes through multiple layers of quality control before it reaches our customers to ensure the highest levels of accuracy.

Our Money Markets Data Coverage

Cash deposits

A broad global cash deposit dataset covering 1,400+ direct and implied instruments across developed and emerging market currencies.

Treasury/Bank Bills

Deep insight into USD short‑term funding markets through volume‑weighted average repo pricing on U.S. Treasury bills. Bills pricing also available for MYR, AUD and NZD.

Commercial paper

Extensive commercial paper (CP) coverage across JPY, INR and USD, including direct CP and CP‑backed repos.

Bankers’ acceptance

Comprehensive bankers’ acceptance coverage spanning Malaysian conventional and Islamic instruments.

Certificates of deposit

Multi‑currency certificates of deposit (CD) coverage, including MYR direct CD instruments and INR CD reference points for public sector undertaking (PSU) and private banks.

Islamic Money Market Instruments

MYR‑denominated Islamic money‑market instruments include Shariah‑compliant liquidity products used for short‑term funding and cash management.

Negotiable Commercial Deposit

NCD pricing across AUD, NZD, JPY, and MYR, covering conventional and Shariah‑compliant instruments from real time to end‑of‑day.

Repurchase Agreements (Repo)

Repo coverage across general collateral (GC) and specials, with real-time and daily pricing for on-the-run and term repos across USD, EUR, and key Asian markets.

Data to support across the trade lifecycle

Pre-trade

Assess illiquid and complex markets, turn raw data into actionable insights and find alpha in opaque instruments.

Point-of-trade

Use real-time data for price discovery and to assist with entry and exit decisions.

Post-trade

We provide data to compliance teams to monitor market activities in real-time and detect potential compliance violations.

Three easy ways to connect to our data

Direct

Instant access through API or SFTP channels.

Cloud delivery

Access via our cloud partners such as Snowflake and AWS.

Channel partners

Connect via our extensive network of partners including LSEG, Bloomberg, S&P and ICE.

The numbers speak for themselves

15

+

years of historical data

40

+

currencies

8

money market asset types

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Complete the form and tell us which asset class/instrument you would like to see.

Money markets FAQs

Where do you source your money market data from?

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Our data is generated through a proprietary internal pricing system that integrates live market data and broking activity from Tullett Prebon and ICAP trading desks.

We also source money market data from other leading liquidity venues including:

Crest Finserv

Specialist provider of Indian Rupee products. Indian money market products include:

Certificates of deposit
Commercial paper

TPSITICO

Specialist provider of Chinese on-shore and off-shore markets.

Chinese money market products include:

Cash
Commercial paper
General collateral
Negotiable commercial deposit

Totan ICAP

Specialist provider of Japanese markets.

Money market products include:

Cash,
Certificates of deposit,
Commercial papers,
General collateral,
Mutanpo Call (uncollateralised)
Repo/Certificates of deposits
Repo/commercial paper
Repo/treasury bill
Yuntanpo call (collateralised)

How is money market data delivered to clients?

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We offer flexible delivery options to suit your infrastructure needs.

Our data can be accessed via Fusion Insights platform, real-time streaming (WebSocket), snapshots (SFTP), cloud delivery (Snowflake, AWS).

We also deliver access via third party platforms including:

Bloomberg
LSEG

How can money market data be used?

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OTC money market data is used across the financial ecosystem, including:

Sell‑side institutions: Banks and dealers involved in trading, treasury, repo, structuring, risk management, and valuation.
Buy‑side firms: Asset managers, money market funds, portfolio managers, and liability‑driven investors.
Corporates: Treasury teams, CFOs, and risk managers managing short‑term funding and cash positions.
FinTech and data platforms: Product, engineering, and data teams integrating high‑quality pricing into analytics and workflows.

Why are repo prices important?

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Repo prices are essential for understanding and managing interest rate risk and opportunity in the US. Access to high‑quality repo data supports a wide range of workflows, including:

Interest Rate Risk Management: By analysing repo pricing, clients can assess the potential impact of interest rate movements on their portfolios and implement effective hedging strategies to mitigate risk.
Liquidity Risk Management: Monitoring repo rates and volumes provides insight into market liquidity conditions, enabling firms to adjust funding strategies with greater confidence.
Trading Opportunities: Repo rates can highlight arbitrage opportunities across different markets and maturities. Our data helps clients identify and capitalise on these opportunities.
Model Validation: Repo data can be used to validate and calibrate quantitative models, improving accuracy and robustness.

What are repo specials and why are they important?

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What are TP Repo Euro Specials?

TP Repo Euro Specials are a segment of the European repo market where specific securities -most commonly sovereign bonds -are traded individually due to their scarcity or strategic importance. Unlike General Collateral (GC) repos, which use interchangeable securities, specials are driven by targeted demand for particular instruments. These trades are typically executed either bilaterally or cleared through central counterparties and are often used by institutions managing regulatory requirements or sourcing high‑quality liquid assets.

Why are TP Repo Euro Specials important?

They play a critical role in:

Collateral optimisation
Monetary policy transmission
Maintaining liquidity and stability in European money markets

Their scale and function make them a key indicator of underlying market dynamics.

What are the key benefits of Repo Euro Specials data?

Execution Strategy Enhancement: Improve pricing accuracy, refine trading strategies, and identify arbitrage opportunities—particularly in volatile or less liquid market conditions.
Market Sentiment and Liquidity Insight: Specials activity provides a strong signal of collateral scarcity and market stress, making it a valuable input for central banks, asset managers, hedge funds, and risk teams.

What are typical use cases?

Collateral Management: Optimise the deployment of scarce collateral to meet margin and regulatory requirements, including variation margin for cleared OTC interest rate swaps.
Liquidity Buffers: Access reliable, tradeable pricing levels for high‑quality liquid assets (HQLA), supporting rapid and efficient liquidity management.
Risk and Regulatory Reporting: Support transaction and risk reporting with detailed repo rate and collateral data, improving transparency and control.

What is general collateral (GC) repo data?

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GC (General Collateral) Repo data represents outright fixed repo rates for general collateral across major currencies. These rates reflect market‑observed levels and are manually input by trading desks based on real market activity.

GC repo rates are not model‑derived: there is no bootstrapping, no zero‑rate construction, and no automated fair‑value calculation applied. The data represents raw market indications.

What is the purpose of GC Repo data?

GC repo data is a critical input for:

Market liquidity assessment
Rate benchmarking and price discovery
Funding, risk management, and balance‑sheet analysis

What market sources are used for GC repo levels?

GC repo levels are derived from three primary market inputs, reviewed collectively by trading desks:

Executed repo trades observed during the trading day
Live bid and offer indications (IOIs)
Broker indications based on regular market flow

These inputs are assessed together and manually transcribed to produce GC repo values.

Are GC repo rates calculated or modelled?

No. GC repo rates are provided as‑is, reflecting observed market levels.
The only calculation applied is date generation (start and end dates), which follows standard settlement calendars. GC repo rates are independent of any swap curve, OIS curve, or ESTR‑based modelling framework.

What are common short tenors and how are dates handled?

Typical short‑dated repo tenors include:

ON (Overnight): Trade date → next business day
TN (Tomorrow/Next): T+1 → T+2
SN (Spot/Next): Spot date → next business day

All tenors accrue calendar days between settlement and maturity.

How are OIS reference rates used?

The “OIS Ref / OIS Mid” field represents the mid‑rate of the relevant overnight index swap for each currency:

EUR → €STR OIS mid
GBP → SONIA OIS mid
USD → SOFR OIS mid
AUD → AONIA OIS mid

These reference rates are manually sourced and rounded to two decimal places.

Why is the repo bid rate higher than the ask rate?

In repo markets, bid rates are typically higher than ask rates because repo is an interest‑rate instrument:

Bid: Rate at which you lend cash (receive collateral)
Ask: Rate at which you borrow cash (post collateral)

A higher rate reflects greater interest received when lending cash.

How is overnight repo handled around holidays?

If the next settlement day falls on a holiday, maturity rolls to the next available business day, and all intervening calendar days are included in the accrual.

Example:

Trade date: Friday
Monday: Holiday
Maturity: Tuesday
Accrued days: Friday → Tuesday (4 calendar days)

Which currencies do you offer?

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We provide markets in the following:

AED, AUD, BGN, BHD, BRL, CAD, CHF, CLP, CNY, COP, CZK, DKK, EGP, EUR, GBP, GHS, HKD, HUF, IDR, INR, ISK, JPY, KES, KRW, KWD, MAD, MXN, MYR, NGN, NOK, NZD, OMR, PEP, PHP, PLN, QAR, RON, RSD, SAR, SEK, SGD, THB, TRY, UAH, UGX, USD

.

What are OTC money market instruments?

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OTC (over‑the‑counter) money market instruments are short‑term financial instruments used by market participants to manage liquidity, funding, and cash positions. They typically have short maturities and play a critical role in day‑to‑day financing across banks, buy‑side firms, corporates, and financial institutions.

OTC money market instruments underpin a wide range of short‑term financial activities, including:

Cash and liquidity management
Short‑term funding and secured borrowing
Benchmarking and pricing floating‑rate products
Risk management, valuation, and regulatory reporting

They are essential to the efficient functioning of global financial markets.

What type of money market instruments are covered?

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Our OTC money market coverage includes widely traded conventional instruments such as:

Treasury Bills (T‑Bills): Short‑term government debt issued to raise funds, typically priced at a discount to face value.
Bankers’ Acceptances: Short‑term credit instruments used in trade finance, where payment is guaranteed by a bank.
Certificates of Deposit (CDs): Fixed‑term deposits issued by banks, commonly used for cash management and yield enhancement.
Commercial Paper (CP): Unsecured short‑term debt issued by corporations to meet working capital or liquidity needs.
Deposit Rates: Interest rates paid on bank deposits, often used as funding benchmarks or for treasury management.
Repo Rates: Rates associated with repurchase agreements, used for secured funding and collateral management.

Which Islamic money market instruments do you offer?

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Islamic money market instruments serve similar short‑term funding and liquidity purposes as conventional instruments, but are structured in accordance with Shariah principles. This means they avoid interest (riba), promote ethical investing, and often incorporate risk‑sharing or asset‑backed structures.

Coverage includes a range of Islamic instruments commonly traded in Malaysia and other key markets, such as: