BlockPhi Global Liquidity Model · How the licence works · www.blockphi.com/institutions/licensing · Updated 3 October 2026
How the licence works
Two licences and one credit line. Terms, delivery and notice periods are agreed in each licence.
The two licences
- Internal use
- For use inside your firm, in its research and reporting. Investor letters and decks sit under internal use, with the credit line and display terms agreed in writing.
- Redistribution
- For platforms and publishers that show or supply the series to their own users.
Display, derived data and model use are agreed in writing within either licence.
The credit line
Wherever the series is shown outside your firm, it carries this line.
Credit line. Select to copy. Source: BlockPhi Global Liquidity Model
Display name: BlockPhi Global Liquidity Model. A symbol is agreed with each platform.
Delivery and timing
Weekly, as of Friday. Each component enters at its latest usable value on the Friday, from weekly central bank statements to the quarterly BIS debt securities statistics.
Published every Friday after the US close. Licensed delivery by API or CSV, set up for each firm once terms are agreed, by Saturday 12:00 UTC.
The delivery time applies from the start of a licence. Licensed delivery is not self-serve.
A licence does not deliver a week before it is published. It sells the right to use the series, delivery and answers from the team. It includes the 22 components, subject to each publisher’s terms.
Included and not included
The Global Liquidity Model is a composite that measures the balance-sheet capacity behind global credit: the balance sheets of five central banks plus 17 government debt markets, revalued every Friday in US dollars and multiplied by a collateral multiplier keyed to the US ten-year Treasury yield.
Included
- Global Liquidity, weekly.
- The collateral base, split into central bank money and sovereign debt.
- The collateral multiplier.
- The 22 components: five central bank balance sheets and 17 government debt markets. The fields delivered for each component are confirmed at contract stage, subject to each publisher’s terms. Component rows are recorded live since 11 September 2026.
- History from January 2020. Recorded live since 31 July 2026.
- Delivery by API or CSV, set up for each firm once terms are agreed.
Not included
- The values of the construction’s parameters, and how they were estimated.
- BlockPhi’s Bitcoin models.
- Delivery earlier than publication.
- Self-serve access.
- Investment advice.
What a licence commits to
- Delivery
- By Saturday 12:00 UTC, from the start of a licence. Never before the week is published.
- Terms
- Terms, delivery and notice periods are agreed in each licence.
- Method changes
- The policy for a future method change is agreed in each licence.
Evaluation and trials
- Evaluation access
- Access to the weekly series in BlockPhi’s analytics terminal while your firm reviews it. The team approves each request. The terminal also shows member research that is not part of the data licence. Evaluation access is not a licence to use the series in your firm’s work.
- Sample files
- The headline and component sample files are sent on request. The headline sample is the 52 Fridays of 2024 with headline fields only, a reconstruction with the current method; the component sample carries the component schema and its data dictionary.Request the sample files
- Data trial
- Trial terms are agreed in writing before a trial starts.
Evaluation follows a request.
Request accessFrom request to licence
A person replies from contact@blockphi.com.
We send the sample files, answers to your questionnaire and the other documents marked On request.
Evaluation access while you review. Trial terms are agreed in writing before a trial starts.
A licence agreement, in writing.
Delivery set up for your firm.
Documents
What exists, where it is, and what comes at contract stage.
| Document | What it answers | Status |
|---|---|---|
| Methodology | How the series is built: construction, timing and point in time | On this site |
| Coverage and fields | The 22 components, the output fields, history and delivery | On this site |
| How the licence works | The two licences, the credit line, evaluation and the steps to a licence | On this site |
| What the series shows, and what it missed | Five dated market periods, misses included, and one test on the current series | On this site |
| Headline sample file | The 52 Fridays of 2024, headline fields, generated from the series, as CSV | On request |
| Component sample file, with its data dictionary | The component schema, against your own stack | On request |
| Exchange-rate and yield sources | Which public series value each component | On request |
| Answers to your due-diligence and security questionnaires | Anything above, in your format | On request |
| Source list with each publisher’s terms | The terms each input’s publisher sets | At contract stage |
| Licence agreement and trial terms | Terms | At contract stage |
Questions
Is the history point in time?
Recorded live since 31 July 2026. Weeks before 31 July 2026 are reconstructed with the current method, each input entering on a lag that follows its usual release schedule. They are not a record of what was known on each date. Component rows are recorded live since 11 September 2026.
Are published values revised?
Published values are point-in-time: each week is written once and is never revised after publication. The inputs to each publication are hash-archived since 19 September 2026. The policy for a future method change is agreed in each licence.
How much history is there?
Weekly from January 2020: 354 weeks to the week ending 9 October 2026. Weeks before 31 July 2026 are a reconstruction with the current method.
When is each week published, and when is it delivered?
Published every Friday after the US close. Licensed delivery is by Saturday 12:00 UTC, from the start of a licence, never before the week is published.
In what format is the data delivered?
By API or CSV, set up for each firm once terms are agreed. Global Liquidity, the collateral base, central bank money and sovereign debt are in US dollars, in trillions. The collateral multiplier is a ratio. Column names and file layout are confirmed at contract stage. The headline and component sample files are sent on request.
Are the regime and the six-week change delivered?
Delivered fields are confirmed at contract stage.
Where do the inputs come from?
Balance sheets from five central banks: the Federal Reserve, the European Central Bank, the Bank of Japan, the Bank of England and the People’s Bank of China. Sovereign debt quantities for 17 markets from the BIS debt securities statistics. Exchange rates and six government bond yields from public sources, listed on request. The coverage page names each of the 22 components with its publisher. The source list with each publisher’s terms comes at contract stage.
How are holidays, input times and data quality handled?
The rule for a Friday US market holiday, the time market inputs are taken and any per-week data-quality flags are confirmed at contract stage.
What happens if a Friday print is late?
If a due week has not been published by Saturday 12:00 UTC, the latest-week panel on the Institutions page says “Not yet published” against that Friday. Delivery and notice periods are agreed in each licence.
What happens to supply if publication stops?
Continuity of supply is agreed in each licence.
Can we trial the data before a licence?
Evaluation access opens the weekly series while your firm reviews it, by approval. The headline and component sample files are sent on request. Trial terms are agreed in writing before a trial starts.
How long does evaluation access last?
It has no fixed end date. The team reviews it with each firm.
Is a terminal membership a licence?
No. Terminal membership is for personal use. Using the series inside a firm needs a licence.
How do we credit the series if we redistribute it?
Showing or supplying the series to your own users needs the redistribution licence. Wherever the series is shown outside your firm, it carries the line “Source: BlockPhi Global Liquidity Model”. A symbol is agreed with each platform.
Who publishes the series, and who do we deal with?
BlockPhi, an investment analytics firm. The series is published as data and research. A person replies from contact@blockphi.com. The team approves evaluation access.
The series is offered to institutions under licence.
Terms, delivery and notice periods are agreed in each licence.
For funds, market makers, family offices, treasury companies and data platforms.
Request accessRequest access: contact@blockphi.com or www.blockphi.com/institutions#request