PFM Selects Bloomberg's Municipal AAA and Sector Curves for Transaction Management and Bond Pricing

PFM selects BVAL's AAA Curves, which uses real-time trades and contributed sources to reflect movement in the municipal market as it is happening

NEW YORK, May 10, 2022 /PRNewswire/ -- Bloomberg today announced that PFM, the nation's largest independent financial advisor, has selected Bloomberg's evaluated pricing service BVAL, as the primary source to guide their municipal bond advisory model. PFM will use BVAL's AAA Municipal Curves for transparent and objective municipal market information to streamline the financing process for clients.  

"We are committed to providing our clients with the best benchmarking and market indicators to make informed decisions when accessing the municipal primary capital markets," said Todd Fraizer, Managing Director and Head of PFM's Pricing Group. "When evaluating data providers, we ultimately selected BVAL since it is widely used, publicly available, consistent, objective, timely and updated frequently. We aim to work closely with Bloomberg to help clients move forward using BVAL for their new issuances."

BVAL's AAA Municipal Curves are publicly available via the MSRB enabling PFM clients to independently track the market and are available to Bloomberg Data License clients as well as on the Bloomberg Terminal, which has the most market making activity transacted for U.S. municipals. BVAL's AAA Municipal Curves are constructed over a term structure from 3 months to 30 years and rely on sophisticated modeling techniques that normalize credit differences of eligible AAA-rated credit ensuring no single trade or contribution has an outsized influence on the curve. Curves are produced hourly between 9:00 am — 4:00 pm EST providing users with the most current and relevant market movement available.

"BVAL's municipals pricing and AAA Curves consistently demonstrate the highest degree of market responsiveness and transparency in the industry, which is the result of years of honing our unique combination of market expertise, proprietary models, and industry engagement," said Stephanie Sparvero, Global Head of Bloomberg's Evaluated Pricing Service, BVAL. "We are proud to support PFM and provide their business and clients with high quality municipal curves to help inform their decision making and advisory business."

BVAL supplies independent and transparent evaluated pricing daily for over 2.5 million securities, including nearly one million municipal prices. BVAL prices are the result of a data-driven approach and are closely monitored by a team of experienced municipal market experts who have an average over 20 years of industry expertise. BVAL is the primary pricing source for the Bloomberg Fixed Income Indices, which are widely recognized benchmarks for fixed income investors. BVAL is part of Bloomberg's Enterprise Data business, which produces high-quality pricing, reference and regulatory datasets, real-time market, event and news data, and liquidity analytics along with data management and distribution technologies.

To learn more about BVAL, please visit our website here.

About PFM

PFM Financial Advisors LLC ("PFM") was founded in 1975 to provide independent financial advisory services to the public sector.  PFM's primary focus is providing financial advisory services to the public sector. For the past 24 years, PFM has ranked as the nation's #1 financial advisor in terms of dollar volume and number of transactions.  PFM currently has more than 350 employees, including 222 financial advisory personnel, located in 31 offices and locations across the United States.  Financial advisors and consultants – partner with clients in every region of the country to transform their world. PFM combines superior financial advice, disciplined management and ingenuity to build, power, move and educate. For more information regarding PFM's services or entities, please visit pfm.com.

About Bloomberg

Bloomberg, the global business and financial information and news leader, gives influential decision makers a critical edge by connecting them to a dynamic network of information, people and ideas. The company's strength – delivering data, news and analytics through innovative technology, quickly and accurately – is at the core of the Bloomberg Terminal. Bloomberg's enterprise solutions build on the company's core strength: utilizing technology to allow customers to access, integrate, distribute and manage data and information across organizations more efficiently and effectively. For more information, visit www.bloomberg.com or request a demo.

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SOURCE Bloomberg