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Bloomberg B-PIPE to Provide Source Data to Calculate NZFMA Closing Reference Rates

July 17, 2017

Wellington – Bloomberg, the global financial data and news leader, announced today that the New Zealand Financial Markets Association (“NZFMA”) now receives real-time prices from Bloomberg’s consolidated market data feed, called B-PIPE. NZFMA, the professional body for institutional banking in New Zealand, is now using the B-PIPE rates in its end-of-day market rates calculation.


Bloomberg’s B-PIPE provides financial firms with global connectivity to consolidated, normalized market data in real time. B-PIPE gives firms access to Bloomberg’s composite tickers and market indices along with consolidated, normalized market data for 35 million instruments across all asset classes, including data aggregated from more than 330 exchanges and 5,000 contributors.


In 2016, NZFMA embarked on a project to review the capture and calculation methodology for New Zealand data, including real-time and reference data on New Zealand’s wholesale OTC financial markets. The B-PIPE data supplied to NZFMA will be used in calculations for a range of tradable financial instruments, such as: New Zealand Government Bonds; New Zealand Swap Closes; New Zealand Bills/LIBOR; New Zealand OIS Close and New Zealand Credit Markets.


“We’re delighted to be working with NZFMA to enhance the quality and accuracy of market closing rates data,” said Heena Chakravorti, Bloomberg’s Head of Oceania. “B-PIPE supports NZFMA’s goal of maintaining the highest standards in the provision of financial benchmarks and closing market rates, making use of market leading technology to further enhance the efficiency of New Zealand’s financial system.”


By sourcing data from Bloomberg’s B-PIPE, NZFMA is able to access market data in a consolidated and seamless manner, without having to rely on bank panel submissions. In addition, the provision of closing rate market reference rate data that is electronically calculated from B-PIPE delivers significant improvements to market accuracy and transparency. The format of the credit market closing rate data will change from credit spread to an outright yield, or price basis, which eliminates the need to calculate the closing rate manually and reduces the of probability of an input or computation error.


To promote consistency of data for market participants when marking their end-of-day positions, Bloomberg will also provide calculated spread data for fixed rate credit bonds and the discount margins for floating rate notes.


For more information about Bloomberg’s consolidated market data feed, or B-PIPE, please visit

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