Etrading Software (ETS), the UK’s consolidated tape provider, has reported that a market participant raised a query on 2 July regarding the notional values of emerging market credit trades found on Bloomberg, which appeared “larger than expected”.

Having investigated the issue, ETS Connect UK said in a note to CTP users that the notional values on the CTP were correct and the values published on Bloomberg were around 100 times larger than the corresponding CTP-published figures.

ETS wrote that “[This indicated] that the discrepancy arose outside the CTP’s own data holding and dissemination processes, which have been verified as accurate.”

The firm said that Bloomberg confirmed it was a known, incident and was ongoing at the time of the ETS query, and was being managed by Bloomberg’s internal incident management team.

Bloomberg reportedly asked that clients to direct queries on the topic to Bloomberg support.

Bloomberg has not responded to a request for comment at the time of publication.