FastMatch, Euronext’s electronic communications networks (ECN) for trading foreign exchange, is opening real time public access to key data. The company’s FX Tape feed, which provides volumes and price data and is currently delayed by 15 minutes, will be available for purchase.
FastMatch is opening the real-time public access to the feed at €40 euros per month.
Commenting on the move, the CEO of FastMatch, Dmitri Galinov, said: “For a small monthly fee, individuals and companies can view the latest FX rates transacted on interbank markets. This information empowers them to demand better FX rates from vendors.”
The company’s FX Tape product can be used for post-trade transparency in FX markets, but also enables market participants to monetize their trading data. The information is also accessible for free with a 15 minute delay on the company’s website.
FX Tape can also be used as a central reference point for spot FX rates. The product allows individuals and companies that use it to benchmark the FX rates they received for a given transaction.
The cost at which FastMatch is opening its data feed is unprecedented in the industry. Typically such data costs thousands of euros a month and has very high processing requirements for clients.
Application Beyond Post-Trade Transparency
The news is surely to be welcomed by the algorithmic trading community which is always on the lookout for а reliable source of data.
Developers of trading robots, especially those driven by artificial intelligence, which is the latest trend in the industry, have one more source to feed into their machines.
Data from FX Tape is open to all contributors via FastMatch via an open access model. The company is sharing a percentage of the net revenue generated by the sale of FX Tape with the contributors, based on the volumes that have been contributed.
Fastmatch’s CEO Dmitri Galinov participated in the Finance Magnates seminar on liquidity and the role of institutional players in the retail players.
— Finance Magnates (@financemagnates) November 15, 2017