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SpreadBench NCSX-IS — AI Infrastructure Bond Issuance Spread Index

by BrianTian818version 0.3.0i★ –iRuns in the cloud
Registry namecom.spreadbench/ncsx

Install

Overview

Description from the maker (original English)

AI-infrastructure bond issuance-spread index (NCSX-IS): 13 bonds, 2 tiers, 14 free MCP tools.

PopNx MCP’s three pillars

These three are never merged into one score: opinions, measurements and popularity are different things.

What you can do with it

We have not written a plain-language summary for this one yet. Below are the facts we read from the registry.

Install

Pick the AI app you use, then copy the settings.

Before you install

You need

Which app do you use?

Pick your app above. We remember it, so next time the button says “Install in …”.

Works in Claude on the web, desktop and mobile:

  1. Open Settings → Connectors
  2. Press Add custom connector
  3. Paste the address below and press Add
  4. If it asks you to sign in, sign in with the maker
SettingsConnectors1+ Add2https://…3
https://spreadbench.com/mcp

Run this in your terminal

claude mcp add --transport http ncsx https://spreadbench.com/mcp

Open in Cursor

Or copy the settings yourself

Paste into .cursor/mcp.json in your project, or ~/.cursor/mcp.json

{
  "mcpServers": {
    "ncsx": {
      "url": "https://spreadbench.com/mcp"
    }
  }
}

Your browser asks to open the app, then the app shows the settings and asks you to confirm. Key values are left empty for you to fill in.

Open in VS Code

Or copy the settings yourself

Paste into .vscode/mcp.json in your project

{
  "servers": {
    "ncsx": {
      "type": "http",
      "url": "https://spreadbench.com/mcp"
    }
  }
}

Your browser asks to open the app, then the app shows the settings and asks you to confirm. Key values are left empty for you to fill in.

ChatGPT connects only to servers on the internet:

  1. Open ChatGPT on the web → Settings → Connectors (Apps)
  2. Press Create or Add (some plans need Developer mode under Advanced first)
  3. Paste the address below, give it a name and save
  4. If it asks you to sign in, sign in with the maker
SettingsConnectors1+ Create2https://…3
https://spreadbench.com/mcp

Menu names can differ slightly by plan and over time.

Your choice stays on this device in a cookie; no account needed.

These settings are generated from the maker’s registry entry. If the README says otherwise, follow the README.

What it can do

Tool names and descriptions exactly as the server reported them on Nov 6, 2026. The maker wrote them, not us; we show them as plain text.

  • ncsx_latest

    The one number to quote — use this first for "what is NCSX-IS / what is the spread right now". Returns a compact record: headline issuance spread (coupon minus the Treasury yield of matching tenor on the pricing date, weighted by face value), the secured and unsecured sub-indices

  • ncsx_index

    The full index definition, not a single number — use when the question is structural ("how is NCSX-IS built", "show all tiers") rather than "what is the level". Returns the NCSX-IS / secured / unsecured tiers side by side with each tier's notional and constituent count, plus inde

  • ncsx_constituents

    The whole universe in one response — all 13 constituent bonds, no filter: issuer, ticker, coupon, maturity, size, seniority, pricing date, tenor, the matched Treasury yield on that date, and the resulting issuance spread in bp. Use it to list the index or to compute weights; if t

  • ncsx_bond

    Filtered lookup for one issuer, ticker or note keyword (e.g. "CoreWeave", "GLXY", "Helios", "2031") — returns only the matching constituent bonds, not the whole universe. Constituents are identified by issuer + coupon + maturity; they do NOT carry CUSIPs, so never query by CUSIP.

  • ncsx_curve

    The US Treasury par-yield curve used on the pricing date (14 tenors, interpolated linearly, never extrapolated) plus its recent history. Every constituent spread is measured against this curve.

  • ncsx_sector

    Context series for the AI-infrastructure credit complex: US high-yield OAS, US investment-grade OAS and related ICE BofA indices, with 30-day change and daily history — use these to compare NCSX-IS against the broader market.

  • ncsx_filings

    SEC filing radar for the 9 AI-infrastructure issuers covered by SpreadBench (6 in NCSX-IS plus Nebius, IREN and Hut 8 on the watchlist): every filing from the last 45 days, noise forms (ownership, routine) filtered out, pricing-chain forms (FWP, 424B*, S-3*, F-10) flagged with pr

  • ncsx_marks

    Second, independent layer: quarterly fair-value marks for AI-infrastructure bonds as reported by US registered funds on SEC Form N-PORT (Level 2), converted to spread over the matched Treasury. Compare with NCSX-IS to see issuance spread vs. mark spread.

  • ncsx_methodology

    Methodology metadata and full formula chain: version, DOI, license, data sources and their licensing status, the exact spread and weighting formulas, and what is explicitly NOT measured.

Basic checksi

We check information anyone can see; we have not read the code. Checks that do not apply are left out of the count. · Checked Nov 6, 2026

  • ✓ Pass

    Maker matches the repo

    The registry name was verified against the domain spreadbench.com (the registry checks domain ownership)

  • … Not checked yet

    Still maintained

    We have not read this repo from GitHub yet

  • … Not checked yet

    Has a licence

    We have not read this repo from GitHub yet

  • ✓ Pass

    Endpoint responds

    Responded in 1167 ms (HTTP 200)

  • – Not applicable

    Sign-in with OAuth

    No sign-in needed

  • ✓ Pass

    No hidden instructions in tool descriptions

    Read 9 tool descriptions and found no hidden instructions to the AI

Compared with others in Otheri

  • More stars than 0% of the other 32435 servers in this category
  • Published to the registry more recently than 100% of the other 32435 servers in this category
  • Basic checks equal to or better than 100% of the other 32435 servers in this category

Compared with every active server in this category in the registry. Stars count only when the publisher owns the repo.

Common questions

Is SpreadBench NCSX-IS — AI Infrastructure Bond Issuance Spread Index safe?

It passed 3 of 3 applicable basic checks. We have not read the code. Before adding a key or token, see what access the server asks for and use a key with only the permissions you need.

What keys or codes does it need?

The registry does not list a required key, though some servers ask you to sign in on first use.

Does it run on my computer or in the cloud?

It runs in the maker’s cloud. Connect over the internet with nothing to install, but what you send passes through the maker’s servers.

Is it still maintained?

The GitHub repo last changed –, and the latest version (0.3.0) reached the registry today.

Which apps can use it?

Apps that support MCP, such as Claude Desktop, Claude Code, Cursor and VS Code. It connects by URL, so apps that accept remote MCP servers work too, such as ChatGPT in developer mode.

What can I use instead?

In the same category: Spec Driven Development, Remote Desktop Commander, Apify MCP Server

Alternatives

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Reading a card:★ GitHub starsiThree pillars: reviews · checks · usageiUpdated = latest version published to the registryi

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README from the maker

Open the README

Copied from the maker’s repo as written. PopNx MCP has not reviewed or endorsed it. HTML, images and scripts are removed. Links lead off this site.

SpreadBench NCSX-IS — MCP server

Official Model Context Protocol server for SpreadBench NCSX-IS, an issuance-spread benchmark for AI-infrastructure (Neocloud) bonds.

What NCSX-IS measures. For each constituent bond, the coupon minus the US Treasury yield of matching tenor on that bond's pricing date, weighted by face value. It is a point-in-time issuance spread — event-driven, no daily frequency, and not a traded CDS level or a rating. SpreadBench publishes no credit ratings and no investment advice.

Live data: https://spreadbench.com · Methodology + DOI: https://spreadbench.com/methodology.html · JSON API: https://spreadbench.com/api.html


Two ways to connect

1. Remote (streamable-http, nothing to install)
{

"mcpServers": { "ncsx": { "type": "streamable-http", "url": "https://spreadbench.com/mcp" } } }

Free, no API key, no signup.

2. Local (stdio, same tool set)
npm install -g github:BrianTian818/spreadbench-ncsx-mcp

or, without npm registry:

npm install -g https://spreadbench.com/download/ncsx-mcp-0.3.0.tgz

{

"mcpServers": { "ncsx": { "command": "ncsx-mcp" } } }

Both transports share one tool definition file (tools.js), so they never drift apart.


Tools

Fourteen read-only tools, all keyless. Every tool declares readOnlyHint: true / destructiveHint: false, so clients do not prompt for write permission.

ToolReturns
ncsx_latestStart here for "what is the level". Latest NCSX-IS reading, secured / unsecured sub-indices, constituent and issuer counts, notional, as-of date, methodology version, DOI, data_status
ncsx_indexStructural, not a single number. Full index definition, sub-index notionals, coverage notes
ncsx_constituentsThe whole universe, no filter. All 13 constituent bonds: issuer, ticker, coupon, maturity, size, seniority, pricing date, matched Treasury, issuance spread in bp
ncsx_bondFiltered lookup for one issuer — matches issuer / ticker / note keyword and returns only matching bonds
ncsx_curveThe Treasury par-yield curve used on the pricing date (14 tenors, linear interpolation, no extrapolation) plus recent history
ncsx_sectorUS high-yield / investment-grade OAS reference series for comparison
ncsx_filingsSEC filing radar for 9 AI-infrastructure issuers, last 45 days, noise forms filtered; pricing-chain forms (FWP / 424B* / S-3*) flagged pricing_signal
ncsx_marksSecond, independent layer: quarterly fair-value marks from SEC Form N-PORT filings, converted to spread
ncsx_wallMaturity wall by year with secured / unsecured split; pass year to drill into one cohort
ncsx_storiesCitable data stories recomputed live, each with headline numbers, bilingual page and a 1200x630 share card
ncsx_facts16 quotable numbers, each with value, unit, as_of, a human-readable calc and a source; filter by id or q
ncsx_eventsHistory as an event replay. 13 pricing events in order, level after each, change in bp and per-bond pull attribution (pull_bp), so pulls sum to the event delta; filter by since or ticker
ncsx_rulerReverse pricing. Given a coupon and a tenor: interpolated Treasury (never extrapolated), issuance spread, rank among the 13, gap to the index level and to the same-structure tier, and the index level after adding the bond at a given size. Pass issuer to get that issuer's own bonds already in the index as a pricing history. Recomputed on every call — nothing is stored. Also returns a like-for-like comparable set (peer_set: median / notional-weighted / range / rank inside the set; peer_window_years defaults to ±1y, and when the window is empty it falls back to the nearest tenor band with the distance stated).
ncsx_methodologyMethodology version, DOI, license, data sources and their licensing status, full formula chain

Three names from the demo-era server — ncsx_levels, ncsx_attribution, ncsx_weekly — are not listed any more, but still answer if an old client calls them: they return a structured retirement notice rather than an error.


Read data_status before you quote anything

Every payload carries a data_status field. This is the single most important field in the schema:

data_statusMeaning
real_issuanceObserved public issuance data. Safe to quote; reproducible from SEC filings.
retired_seed / seedA withdrawn demo series. Numbers were generated for layout testing. Never quote as market levels.

If a tool returns status: "retired", the endpoint was withdrawn — read the replacement field and move on. Nothing in this server will silently hand you demo numbers.


Example prompts

  • *"What is the current NCSX-IS spread, and how does the unsecured cohort differ from the secured one?"*
  • *"Which CoreWeave bonds are in the index and what spread did each price at?"*
  • *"Compare NCSX-IS against the US high-yield OAS over the last 90 days."*
  • *"Which Treasury tenors does the index lean on most?"*
  • *"Is the NCSX-IS level consistent with the latest SEC N-PORT marks?"*
  • *"A $1.5bn 5-year note at 8.25% — where does that price relative to this market, and what would it do to NCSX-IS?"*
  • *"How did NCSX-IS get from 517.7bp to 432.3bp, and which issuer pulled it the most?"*

Conventions

  • Identifier: constituents are identified by issuer + coupon + maturity. They do not carry CUSIPs — do not query by CUSIP.
  • Units: spreads in basis points over the Treasury at pricing. Notionals in USD millions.
  • Frequency: event-driven. There is no T+1 update and no daily change field.
  • Reproducibility: every number is derived from public filings (SEC EDGAR) and the US Treasury par-yield curve. The methodology page states the exact formula and the interpolation rule.

Notes on naming

Older versions of this server exposed Composite / HY / IG tiers and 90-day daily series. Those came from a demo dataset and were withdrawn on 2026-11-04 in favour of the issuance-spread methodology (v0.2.0-real). The three retired names listed above remain callable only so that old clients receive an explicit notice instead of an error; they are hidden from tools/list.

Directory listings

This server is listed in the official MCP Registry as com.spreadbench/ncsx, and is indexed by Glama (A tier) and brick.blue. glama.json in this repo claims the listing for its maintainer.

License

MIT. Data is published for research and citation; SpreadBench does not provide credit ratings or investment advice.

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