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Sprd/Bfly Enhancement | Weekly Release 7/17/20

Users can enter the MYY of the maturity of the bond, the bond with the lowest coupon and that maturity will be populated

This enhancement allows traders to enter the maturity month and year of a bond as an accepted input in Sprd/Bfly. This new shorthand allows traders to more easily enter issue specific bonds in a more concise and easy to remember manner.

Traders should note that if there are multiple bonds that share the same maturity month and year entering the MYY shorthand will default to the lowest coupon bond. The following example shows how the system defaults to the lower coupon bond for the two bonds that both mature on February 15, 2023. There are two bonds that fall on this maturity date; a 2.000 coupon 10-year original issue and 1.375 coupon 3-year original issue.

Notice how entering 223 (for Feb 2023) defaults to the lower 1.375 Feb 15, 2023 3-year original issue. The Sprd/Bfly monitor will also automatically re-label the security name to say the ticker and maturity month and year so traders can easily identify the bond.

Note: in the EUR Sprd/Bfly, this currently only applies to German tickers.


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