Analytics: liveMid
Streaming independent
live mid.
Real-time independent live mid for fixed income. Streams into pricing systems, risk engines, and valuation pipelines, full audit trail.
What is liveMid
The real-time
independent reference.
liveMid is the real-time counterpart to fairMid: a continuous, independent live mid for fixed income, refreshed as the market moves. The output is a price series any desk or system can consume as an independent reference for live pricing, risk, and trading rather than post-trade valuation.
Built for real-time
pricing infrastructure.
Everything a pricing system, risk engine, or valuation pipeline needs from a streaming reference, latency, coverage, provenance, and distribution.
Real-time streaming
Delivered at the pace the market moves, as a continuous stream from ingestion through to subscriber distribution. A live reference for systems that price and trade in real time.
REAL-TIME · STREAMING
Cross-asset coverage
US Treasuries, UK gilts, European sovereigns, investment-grade and high-yield credit, and cleared IRS. One streaming surface across the full fixed-income universe Ediphy supports.
BONDS · IRS · CREDIT
Powers execution
liveMid is the reference series that drives fairEx routing decisions, the same price signals your execution desk uses sit in your pricing and valuation infrastructure. One number, end to end.
FAIREX · INTEGRATED
API and feed
Distributed via WebSocket, FIX, and REST. Consumable by pricing engines, risk systems, OMS, and valuation pipelines. Full audit trail, every tick reconstructable.
WEBSOCKET · FIX · REST
On the wire
Stream once, distribute everywhere.
liveMid streams over a single WebSocket subscription, FIX session, or REST long-poll. Each update carries the instrument, the timestamp, and the live mid.
Pricing engines, risk systems, and the valuation pipeline all read the same stream. The audit trail is one timeline, one reference price across pricing, risk, and valuation.
| liveMid | Single-venue mid | Dealer mark | Vendor reference | |
|---|---|---|---|---|
| Independent of any one venue | – | – | Partial | |
| Real-time streaming | – | Partial | ||
| Tick-level audit trail | Partial | – | – | |
| Drives same-firm execution routing | – | – | – |
Where it sits
Reference, not just rate.
liveMid reflects the market as a whole — a continuous, independent mid drawn across the full picture.
liveMid is the only streaming reference where the same series drives both the pricing stack and the execution routing layer, same number, end to end.
Use cases
Pricing, risk, valuation,
and execution,
one reference.
Most fixed-income desks run three or four different reference prices, one for the OMS, one for the risk engine, one for the valuation committee, one for the traders on the blotter. Each of those references comes from somewhere different, with different latencies, different methodologies, and no common audit trail. liveMid replaces the stack with a single streaming reference the whole desk can subscribe to. Pricing engines consume it for intraday NAV. Risk systems consume it for live P&L and limits. Valuation pipelines consume it for period marks. fairEx consumes it for routing. One reference, one audit trail, consistent across every consuming system.