CLS Group (CLS), a provider of risk mitigation and operational services has partnered with Quandl, a data platform manager, to help streamline and disseminate aggregated foreign exchange (FX) trade reports in a new comprehensive offering, per a CLS statement.
This joint offering will focus on the distribution of CLS’ executed trade datasets to market venues via Quandl’s data module. The information flow is contingent upon a subscription in the form of three separate reports that is available, corresponding to three periods, hourly, daily, monthly.
In particular, the composition of these data reports will contain an array of market insights and information, including aggregated trade volume by number of trades and the total value in USD. Additionally, the data will feature consolidated information on trade instruments, such as spot, swap, and outright forward, disaggregated by currency pair.
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The partnership is important as it helps bring together a host of pertinent data through the use of Quandl financial and economic datasets across hundreds of data publishers. The decision to rely on CLS as the distributor also helps share such sizable datasets to eager parties, helping paint a more complete version of the broader FX market.
According to David Puth, Chief Executive Officer (CEO) of CLS, in a recent statement on the distribution: “This is the first time we have made this level of aggregate data readily available to the market. It is a key source of trade information will allow a broad range of users to get a clear picture of FX market activity across major currency pairs and products. I am pleased to be working with Quandl, which has a distinct offering for delivering key financial data to the market.”
“These datasets address a large gap for quantitative and technical FX traders, who have never had access to such a comprehensive picture of trading volume for the global FX market. With the volume and coverage from CLS now available via Quandl’s API and platform, we are delivering a dataset that changes the game in the quantitative analysis of an entire asset class,” explained Tammer Kamel, founder and CEO of Quandl in an accompanying statement.
CLS Group made headlines last week after it reported its latest tranche of volumes and aggregation services statistics for June 2016 – the figures highlighted an abrupt reversal off of the past few months.