The market data and information services unit of interdealer broker Tradition, TraditionDATA, announced this Monday that it has partnered with Numerix to improve the quality, depth and breadth of its foreign exchange (forex) market data packages.
Numerix is a provider of technology solutions and real-time intelligence capabilities for trading and risk management. TraditionDATA has partnered with the company to create derived data for more than 130 volatility surfaces across 130+ currency pairs.
Under the agreement, clients of the interdealer broker can now access information across a range of forex products such as spot data from the ParFX trading platform, as well as forwards, swaps and non-deliverable forward (NDF) data.
TraditionDATA information available through INTEGRATE
According to the statement released today, users can directly access the data from Tradition’s in-house market data distribution platform INTEGRATE, as well as Bloomberg’s Market Data Feed (B-PIPE) and through a number of Numerix applications and products.
Commenting on the partnership, Scott Fitzpatrick, Global Head of TraditionDATA, said: “We are always looking to increase our product range and improve the quality and quantity of the data we provide to clients.”
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“Numerix was the ideal partner for this initiative; they have cutting-edge technology and analytics capabilities, and are recognized and renowned across the industry for their advanced modelling and coverage of OTC derivatives, including the most complex exotic products. This partnership gives our clients access to accurate and comprehensive coverage of the FX spot and derivatives markets globally.”
As Finance Magnates reported, back in June, Tradition rebranded its newly minted division TraditionDATA, which focuses on delivering tailored solutions to different types of customers.
TraditionDATA offers its clients packages. These packages are tailored to meet customer demand based on individual requirements. The company aims to ensure that its clients only pay for the specific data they need. The approach is in stark contrast to the majority of data vendors in the industry, which are frequently offering expensive data packages.
“We are proud to be the analytics partner to help TraditionDATA provide the data needed to support its clients. Its flexible model is shaking up the status quo in terms of data consumption, and avoids the complex process of unbundling, analyzing and extracting valuable data points,” added Steve O’Hanlon, CEO of Numerix.
“To build on this, it’s been our focus to ensure the volatility surfaces we provide meet the market need and the service is operationally robust. We look forward to building on our collaboration with TraditionDATA going forward.”