Parameta Solutions rolled out a real-time pricing service for over-the-counter oil markets today (Tuesday), aiming to give traders and developers quicker access to data that's typically scattered across different brokers.
Parameta Solutions Launches Real-Time OTC Oil Pricing Service
The service pulls live prices from PVM and ICAP, two of the world's largest oil brokers, with data from TP set to be added later this month. Parameta, which is the data and analytics arm of TP ICAP Group, says the move makes it the only provider aggregating real-time pricing from three major oil brokers under one roof.
Most physical and forward oil trading happens over the counter rather than on exchanges, which means pricing information tends to be fragmented and less visible than in exchange -traded markets. The new offering is designed to give market participants a clearer, faster view of where prices actually stand.
“In fast-moving markets, real-time data isn't a luxury, it's a necessity. We built this service to help clients move faster and make better decisions – powered by real-time, broker-sourced data, all in one place,” said Silvina Aldeco-Martinez, chief executive officer at Parameta Solutions.
Coverage Spans Crude to LPG Across Global Trading Hubs
The data feed covers crude oil, light ends, middle distillates, fuel oil, and LPG, sourced from more than 100 brokers working across 17-plus desks in London, Singapore, and Dubai. Customers can access the information through multiple channels including WebSocket, SURFIX, Marketfeed, and EMD for streaming data, or via sFTP, S3, Azure, and Snowflake for snapshot delivery.
Parameta's parent company has been expanding its data capabilities as competition in electronic trading intensifies. TP ICAP recently made moves to strengthen its position in the $12 trillion Treasury market, part of a broader push to compete with rivals in electronic execution and market data.
The pricing service is also available through Fusion Insights, TP ICAP's data platform that combines market intelligence with visualization tools. That integration lets users track trends and monitor volatility without jumping between different systems.
Regulatory Approval Supports Expansion
Parameta Solutions received regulatory approval from the European Securities and Markets Authority in 2023 to administer benchmarks, which could support future product development in the data space. The company operates as the exclusive provider of TP ICAP market data.
The launch comes as TP ICAP reported revenue and profit gains in the first half of the year, which prompted the firm to announce a new $30 million share buyback program. The data division has been a focus area as the company works to diversify revenue beyond traditional voice broking.
“This launch marks a major step forward in bringing greater transparency to the OTC oil markets – something the industry has long needed,” said Andrew Polydor, chairman of energy and commodities at TP ICAP. “By leveraging the deep expertise of our brokers and the scale of our global energy business, we're helping market participants access real-time, trusted pricing that reflects true market activity.”
The service targets trading platform developers, quantitative analysts, data scientists, and risk managers who need faster access to pricing information that was previously siloed within individual broking operations.
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