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INSIGHTS REPORT | AUGUST 2026

US Treasury Data Latency Analysis

How quick is quick enough?

A paradigm shift has (quietly) occurred in UST post-trade data. Until recently, the publication of transaction reports used to be measured in minutes. It now takes less than a second.

One month after the UK bond consolidated tape went live, we measured it. For electronically executed UST trades on UK venues, median execution-to-publication now sits at around a single second. This report sets out the weekly measurements, shows what they meant during the June 2026 US non-farm payrolls release, and explains why data this fresh is tradable information rather than history.
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What's inside the report

In this report, you'll discover:

  • Why USTs are the exception to every latency caveat in fixed income
  • Weekly median lag on UK venues to 27 July, on-venue and voice
  • The 2 July Non-farm Payrolls release: an instant move, then 15 minutes of dispersion
  • What the ETS Connect Plus consolidation layer adds, and what it checks

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