China’s Bond-Feed Turmoil Triggered by Data Monopoly, Compliance Concerns, Sources Say

China’s $21 trillion bond market started to find its feet again Friday after descending into chaos earlier in the week, with some companies who supply price data for traders resuming their feeds after a meeting between regulators and market participants.

But Qeubee, the dominant information provider, has yet to restart its services. Its absence may be related to an investigation by the authorities into its business partner’s alleged monopoly of bond price data after complaints by rival service providers, sources with knowledge of the matter told Caixin. Qeubee is the only provider that buys data from all six licensed money brokers, and has exclusive access to data from the biggest broker, Tullett Prebon SITICO (China) Ltd., a joint venture set up by Tullett Prebon (Europe) Ltd. and Shanghai International Trust Co. Ltd.