Thomson Reuters launched AskTRPS, an enhancement to Thomson Reuters Pricing Service. AskTRPS is an independent price challenge tool providing fixed income professionals with a fast and transparent way to submit and resolve evaluated pricing challenges directly via Thomson Reuters DataScope Select, the global data delivery platform for non-streaming content.
Users can meet Public Company Accounting Oversight Board, SEC and other reporting requirements with the tool, which also creates customized reports for boards and auditors on their pricing challenges. Additionally, AskTRPS provides simplified client reporting on price challenge metrics and enhanced communication features.
TRPS, in developing the solution, canvassed its client base of asset managers, mutual funds, custodian banks, mutual fund administrators and risk managers who use the DataScope Select repository of more than 2.5 million fixed income securities, derivatives and bank loans. The resulting solution aims to offer added information supporting the price evaluations delivered by TRPS’s global team of 150 evaluated pricing experts and over 5,000 content specialists.
“At a time of rising market volatility and increasing regulatory oversight, our price challenge mechanism answers a clear need in the fixed income community,“ stated Jayme Fagas, global head of Valuations & Transparency for Thomson Reuters Pricing and Reference Services. “With AskTRPS, our DataScope Select customers tell us they now have the enhanced single-source transparent solution that only a completely independent third party evaluated pricing source can provide.”
DataScope Select has in-depth information on each underlying security while TRPS evaluators currently process, clarify and resolve many price challenges per month. By incorporating this information into the price challenge process, TRPS looks to bring additional data behind challenges.
With AskTRPS, DataScope Select users and TRPS evaluators can add comments to an assigned or resolved challenge within 36 hours of submission, as well as upload relevant information with each challenge. Clients are alerted via email when a price challenge has been resolved.
More information about the AskTRPS service or the DataScope platform can be found here.
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