Quandl, a data platform for economic and financial data, has teamed up with CLS Group, a provider of risk mitigation and operational services for the global forex market, to make CLS’ near real-time FX volume, pricing, and order flow data reports available via its platform.
This joint offering will focus on the distribution of CLS’ unique set of executed trade data to the broader market via Quandl. These reports will contain trade data for the 18 currencies settled by CLS across 33 major currency pairs. Additionally, the new pairing will feature hourly data that will be provided to the platform users within 30 minutes of the conclusion of each hour.
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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. It helps a broad range of users to get a clear picture of FX market activity in terms of volumes, prices, and flows in a more transparent manner.
Quandl’s platform is used by over 200,000 people worldwide as the solution brings together millions of relevant datasets from several data publishers. The data includes daily FX spot prices, FX liquidity metrics, FX order flows data, and now near real-time intraday FX volume data, which are then made available in a variety of formats.
Commenting on the new pairing, Alan Marquard, Chief Strategy and Development Officer at CLS, said: “Increasing regulatory demands and structural changes in the market continue to drive demand for timely data to improve best execution and risk mitigation. CLS processes an average of 500,000 FX trades per day worth over USD1.55 trillion1. Since our launch in 2002, we’ve warehoused the details of every trade to create the largest single source of FX executed trade data available to the market. Today, we’re leveraging our unique position at the center of the FX market to address the wider data needs of global participants.”
Tammer Kamel, CEO of Quandl, added: “This is a game-changing dataset. Until now, FX traders had to try to understand the market with incomplete information. This collective suite of data will empower better trading decisions. It will immediately become an essential ingredient for any momentum or mean reversion strategies.”