Deutsche Börse Extends Data Coverage to FX Spot, Swap Markets

This product expansion extends the German exchange’s market data offering to the foreign exchange market.

Deutsche Börse’s market data service and the group’s FX unit, 360T, are expanding their coverage with a dedicated data product for FX spot and swap markets. The new data display is developed in cooperation with the Germany-based company DIGITEC and designed for market participants who seek instant access to certain macroeconomic events as a basis for their trading decisions.

Deutsche Börse’s new initiative delivers relevant market moving economic events at millisecond speeds. Data content includes central banks’ meetings, “year-, quarter- and month-end turn dates as well as IMM settlements and the corresponding spot market mid prices,” to help clients manage their exposures across both markets more effectively.

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This product expansion extends the German exchange’s market data offering to the foreign exchange market, as well as reflects the synergies between Deutsche Börse with its FX unit. By applying the capabilities of their respective business, they cater to both buy-side and sell-side firms which are increasingly demanding connectivity to access market data from liquidity venues around the world.

Access to timely market data from a wide range of liquidity venues and across multiple asset classes is critical to the successful execution of trading and risk management strategies of its investor community, says the exchange operator.

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Competition with US rivals

From a strategic growth perspective, Deutsche Börse continues to catch up with its US rivals who have been expanding their FX data offerings with new coverage.

Earlier in June, Deutsche Börse completed the purchase of GAIN Capital’s institutional business unit, GTX ECN. The largest retail broker in the US received proceeds of $85 million net of taxes and transaction-related expenses and fees.

GAIN GTX will rebrand to 360TGTX. The total purchase price was $100 million, as previously announced in May.

The deal created one of the largest OTC FX marketplaces for institutional traders and further enhances 360T’s presence in the Americas. The combined offering will serve over 2000 global clients that operate out of more than 75 countries around the world.

Commenting on this, Simon Bajec, Deputy Head of EMEA Sales at 360T, said: “In the day-to-day servicing of our customers, we have uncovered a gap in the market and identified a need for an independent, reliable and cost-effective source of FX market data. With DIGITEC we have just the right partner to satisfy this demand and we integrated the D3-360T data sources seamlessly into our systems. This new service helps customers with risk management, rate reasonability and best execution of FX swaps, NDF and forward trades.”

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