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Update on the transition process to the 'Tradeweb FTSE Gilt Closing Prices' service

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Following the Independent Reference Prices Review and the UK Debt Management Office announcement October 2016, we're pleased to share more details on the transition process to the “Tradeweb FTSE Gilt Closing Prices” service.

Key End of Day Price Delivery Dates 

Thursday 2nd February 2017 

Tradeweb will be calculating and ready to distribute End of Day prices for UK Conventional Gilts, UK Index-linked Gilts and UK Gilt Strips via the Marks file service

Monday 20th March 2017

Tradeweb will be calculating and ready to distribute End of Day prices for UK Treasury Bills via the Marks File service

Access to the New Tradeweb FTSE Gilt Closing Prices

Same day access and consumption – Prices will be made available via a variety of mechanisms including the  Tradeweb Marks file.  Clients should contact Tradeweb for the charging structure, a copy of the Market data agreement (market data fees will not be applicable until the UK DMO cease to publish their prices) and for a copy of the Marks User Guide which outlines connectivity details and data format.  The Marks User Guide explains how the price files can be accessed and also provides details of the format of those files. Details will be published shortly on the methodology that is used to construct the Tradeweb FTSE prices.

In its final report, the Independent Reference Prices Review recommended that reference prices should be made freely available after a suitable delay. In accordance with this, Tradeweb will on an ongoing basis make the prices publicly available free-of-charge from 12.00pm on the business day following initial publication. This will be accessible via the existing Tradeweb Insite website from the beginning of March 2017.

FTSE Actuaries UK Gilts Index Series

Two months prior to the official transition date, FTSE Russell will provide parallel index files to clients of the FTSE Actuaries UK Gilt Index Series based on the Tradeweb FTSE Gilt Closing Prices. 

Additional Tradeweb FTSE Gilt Closing Prices Information

In the coming weeks we will be sharing dates for webinars and Town Hall meetings arranged by Tradeweb and FTSE Russell to discuss the transition process and to answer any delivery related questions.

The UK Debt Management Office has published today an announcement on its website stating it would withdraw from the publication of reference prices in July 2017. The full announcement can be found here.

For further questions regarding Marks access, Market Data charges and Marks User guide, please contact Tradeweb on or +44 (0)20 7776 3200.

For further questions on the FTSE Russell parallel index files, please contact FTSE Russell Client Services on or +44 (0) 20 7866 1810.