Unlike in equities, data in fixed income is opaque, messy, and prohibitively expensive. Whereas legacy data vendors struggle to serve online platforms, Moment's data product is purpose-built to meet the unique requirements of digital retail and wealth management platforms. Through simple REST and Websocket APIs, Moment enables trading platforms to easily embed fixed income reference data, yield curves, historical price charts, and real-time market data in their applications with seamless scalability and no redistribution restrictions.
Reference Data
Moment provides reference data on over 1M fixed income securities, covering treasuries, corporates, municipals, agencies, structured products, and certificates of deposit. Moment's reference data includes over 50 static and dynamic fields — providing everything that trading platforms need to deliver a best-in-class FI offering.
Real-Time & Historical Evaluated Pricing
Moment's evaluated pricing service makes it easy for trading platforms to provide pre-trade transparency, display historical price charts, and mark clients' portfolios. Unlike legacy vendors, Moment provides real-time streams and endpoints for plotting historical charts at no additional cost.
Advanced Analytics
Moment's quantitative research team has developed an analytics suite designed specifically for trading platforms — from yield curves that allow users to compare asset classes and ratings, to factor decompositions that allow wealth managers to analyze the risk profiles of their clients' portfolios.
<aside> ➡️ For a deeper dive on Moment's evaluated pricing service, including performance comparisons with legacy pricing vendors, see Whitepaper: Evaluated Corporate Bond Pricing with Moment.
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Moment covers every major fixed income asset class, including treasuries, corporates, municipals, agencies, structured products, and certificates of deposit. If a bond is missing from Moment's universe, Moment's data team will add it within 48 hours.
Developed by a team of fixed income quantitative researchers, Moment's evaluated pricing service outperforms legacy vendors in forecasting future trading levels. For more information, see Whitepaper: Evaluated Corporate Pricing with Moment.
Without Moment, trading platforms must build separate integrations and ETL pipelines for reference data, evaluated pricing, and order book data, as well as develop their own analytics — even converting prices to yields requires a separate vendor and integration! Moment's APIs allow platforms to retrieve exactly the data they need to show to users, when they need it.
Legacy fixed income data vendors provide reference data, historical pricing data, and real-time pricing data over separate communication channels, each with its own fees and subscription model. Users must clean the data, generate historical time series, convert between prices and yields, and calculate relevant analytics internally. Moment's data product is purpose-built to serve trading platforms. The examples below examine the most common data requirements for online trading platforms offering fixed income, contrasting Moment with legacy vendors.
| Legacy Vendors | Moment | |
|---|---|---|
| Work required | Purchase daily SFTP refdata deltas and build internal pipelines for cleaning and processing the data. | Call the “Retrieve reference data” endpoint. |
| Data costs | $500K per year | Included in core data product. |
| Development time | ~6 weeks | ~1 day |
| Legacy Vendors | Moment | |
|---|---|---|
| Work required | Purchase historical evaluated pricing data and integrate with real-time data streams. Backfill missing data, clean outliers, and construct time series. | Call the “Get historical price chart” endpoint. |
| Data costs | $1M per year | Included in core data product. |
| Development time | ~12 weeks | ~1 day |
| Legacy Vendors | Moment | |
|---|---|---|
| Work required | Purchase market data streams from trading venues. Build a data pipeline to ingest 100M+ messages per day and reconstruct live order books. | Call the “Get top of order book” endpoint. |
| Data costs | $50K per venue, per year | Included in core data product. |
| Development time | ~6 weeks per venue | ~1 day |