The International Capital Markets Association (ICMA) has released a Bond Data Taxonomy (BDT). BDT provides a common, standardized language to facilitate STP across the bond transaction lifecycle and reduce inconsistent use of data in securities issuance. Furthermore, BDT will enable automation, encourage interoperability, promote standardization of data modeling, and minimize manual intervention requirements across trading and post-trade workflow.
In addition, the Association has released a Bond Taxonomy Pack along with the vendor-agnostic BDT that standardizes the key economic terms of a vanilla bond, key dates, and other relevant information typically included within the term sheet. This BDT Pack includes machine-readable definitions of key fields, expected values, and ISO elements, along with a user guide.
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