TradeTech Group said on Thursday that it has formed a new set of partnerships with 18 exchanges from across the world.
The deals mean that the group can provide clients with real-time market data covering over 4,000 products.
In a statement, TradeTech said that the new partnerships could reduce market data costs for clients. Currently, many brokers have to form relationships with exchanges that, due to compliance and licensing costs, are generally very expensive.
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For older firms with plenty of capital, this is a headache but not stopping them from doing business. But some executives that Finance Magnates has spoken to have said that, for smaller firms, these costs are actually preventing them from making money.
“Market data is always a challenge for many start-up brokers, as well as more mature brokers struggling in this increasingly difficult market,” said Muhammad Rasoul, a director at the TradeTech Group.
“[TradeTech] helps brokers focus on what really drives value, which is getting more customers. It’s extremely costly to an organization to manage market data, particularly when you factor in the associated agreements and infrastructure required as well.
“We help reduce, or completely remove, these costs and allow brokers to get back to focusing on acquiring their end customer. Clients that take both liquidity and market data from our group very often remove these costs entirely.”