CP+™
Fixed Income pricing data powered by real transaction activity
CP+ is our fixed income pricing solution, delivering real-time bond pricing across global credit, rates, and municipal bond markets. By using proprietary MarketAxess trading activity, TRACE, TraX®, and other market signals, CP+ provides daily pricing on 80% more bonds than public sources alone. Understand real time pricing sentiment and improve price discovery to gain a deeper understanding of current market dynamics.
Download our white papers to learn how CP+ transforms proprietary trading data into a strategic advantage and how its expanded municipal bond coverage can support trading, portfolio management, valuation, and risk workflows.
Watch how CP+ can help improve trading outcomes
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View More ContentIncomparable data sources
CP+ provides a more accurate reflection of pricing in global fixed income markets by assessing signals from the vast MarketAxess trading platform, including inquiries and responses that don't actually trade.
Many ways to connect
Direct to platform
Connect to CP+ straight from the MarketAxess platform.
API
Connect to our suite of tools in real-time FIX API.
OMS and third party
Connect directly on your systems with an individualized feed.
Excel add-in
A lightweight add-in that provides a single view of our proprietary market data suite for streamlined custom modeling and analytics.
Who uses CP+
Trading desks
Transaction-based bond pricing for better execution decisions.
Portfolio managers
Identify relative value opportunities and monitor portfolio risk.
Quantitative research teams
Feed historical and real-time pricing data into investment models.
Risk & valuation teams
Validate marks using independent, transaction-driven pricing.
What is CP+ and how does it improve fixed income pricing?
CP+ is our fixed income pricing solution that combines proprietary trading activity, TRACE, TraX, and other market signals to generate accurate, real-time bond prices across global credit and rates markets.
By incorporating significantly more transactional inputs than public sources alone, CP+ helps market participants improve price discovery and gain greater visibility into real time market conditions and trading sentiment.
What makes CP+ different from traditional bond pricing sources?
Unlike pricing sources that rely primarily on public data, CP+ incorporates proprietary MarketAxess trading activity and liquidity signals to expand coverage and improve pricing accuracy. This allows CP+ to provide daily pricing on 80% more bonds than public sources alone, helping firms gain insight into both liquid and harder-to-price securities.
How does CP+ help traders and portfolio managers make better decisions?
CP+ provides timely pricing insights that help traders identify trading opportunities, improve execution decisions, and navigate less liquid markets. Portfolio managers can use CP+ to evaluate relative value opportunities, monitor portfolio risk, and support portfolio construction with more comprehensive data.
How does CP+ support pricing for less liquid and hard-to-price bonds?
CP+ is designed to provide pricing insights across a wide range of liquidity profiles through multiple pricing tiers. For bonds with abundant trading activity, CP+ incorporates rich transaction data and market signals to generate highly responsive prices.
For less liquid bonds, CP+ applies additional pricing methodologies and related market inputs to extend coverage and help market participants gain visibility into securities where observable trading activity may be limited.
What fixed income markets does CP+ cover?
CP+ provides pricing across global credit and rates markets, including investment grade bonds, high-yield bonds, emerging market debt, leveraged loans, municipal bonds, sovereign bonds, and interest rate products. For full market coverage, refer to page 11 of the CP+ white paper.
Latest thought leadership
Enhancing data usability and market visibility under new regulatory changes
Europe’s bond transparency rules are increasing data, not necessarily clarity. This article explains why usability, cleansing, and context matter now more than ever, and how MarketAxess TraX Tape aims to deliver decision-grade data to the market.
