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Municipal Bond Pricing System

Intrinio API
Frequency
Daily
History
2016
Coverage
US
Customizable

Feed Details

The Municipal Bond Pricing System (MBPS) is an algorithmic process that prices municipal bonds based upon their terms and conditions and available market data. We analyze daily market quotes, trades, reference information, peer bonds, and current yield curves to generate intraday and daily pricing. We provide all of the input data, supporting values, and intermediate results for each price that is produced. Our method reduces risk by providing more market-driven evaluations than traditional methods (such as bootstrapping, interpolation, and matrix pricing). 

  • Transparent: All relevant market and descriptive data available for auditing  
  • Compliant: Based on MSRB’s Rule G-30 prevailing market price hierarchy  
  • Complete: ~1M unique municipal bonds priced daily 
  • Updated at 1:15am ET 

Access Methods

API
Excel
CSV
Web Socket

Compare Plans

Individual

$499/yr.
API Calls Per Minute
120
Live Support Seven Days a Week
Ticketing System
Student/Military Discount
Unlimited Collaborators
External Display Rights
Dedicated Account Manager
Startup Discount
Small Business Discount
Comarketing Opportunities

Business

Custom Pricing
API Calls Per Minute
Customizable
Live Support Seven Days a Week
Ticketing System
Unlimited Collaborators
External Display Rights
Dedicated Account Manager
Startup Discount
Small Business Discount
Comarketing Opportunities

Annual Plans

Business

Custom Pricing

Individual

$
/yr.
Custom Pricing
API Calls Per Minute
Customizable
120
Live Support Seven Days a Week
Ticketing System
Student/Military Discount
Unlimited Collaborators
External Display Rights
Dedicated Account Manager
Startup Discount
Small Business Discount
Comarketing Opportunities

Compare Plans

Individual

$499/yr.
No items found.

Business

Custom Pricing
No items found.

Annual Plans

Business

Custom Pricing

Individual

$
/yr.
Custom Pricing
No items found.

FAQs

What type of delivery methods do you provide?  

CSV or other delimited text file.

How do you price municipal bonds?

We use several different pricing algorithms depending on the source data available:

  • Direct – uses contemporaneous trades and quotes on the bond being priced, adjusted for side of the market, lot size, and rate movement. 
  • Peer – uses contemporaneous transactions and quotations on bonds that are “similar” to the bond being priced, adjusted for side of the market, lot size, rate movement, credit rating, and maturity differences.  
  • Adjustable/Variable Rate – uses a price of par, with yield equal to the bond’s current rate.  
  • Historical Spread – uses noncontemporaneous transactions and quotations on the bond being priced, adjusted for side of the market, lot size, rate movements, and change in time to redemption (roll down). 
  • Curve – uses yield curves for a similar credit, adjusted for side and size.  

What if I want to display the data?

This use-case would need to be negotiated with SQX. 

How many years of history are available?  

We can provide prices beginning June 2016. 

What is the coverage for this data set?

MBPS covers all US-issued, dollar-denominated municipal bonds. The MBPS provides best-efforts pricing for investment-grade municipal bonds with standard coupon and call structures. It is not intended to price:  

  • speculative-grade (high-yield) bonds  
  • bonds that are in technical or economic default  
  • municipal securities with a non-standard structure (floaters, inverse-floaters, etc.) 
  • illiquid, non-rated bonds with no available market data 

What are the advantages of this data?

  • Increased pricing accuracy 
  • Offers transparency into the methods and data sourced to produce the valuations 
  • Priced to fit the regional firms’ budgetary framework 
  • Developed by experts specific to the market niche it serves 

How is this data sourced?

  • Reference data from Mergent  
  • Market, benchmark, and credit curve data from MBIS 
  • Proprietary reference data on peer bonds 

What are common use cases for this dataset?

  • Overall muni market analytics 
  • Valuation of client portfolios 
  • Opportunities for discovering advantageous rich/cheap valuations 
  • Auditable market and reference data for regulatory compliance 
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