eFXData, an FX data provider, has confirmed that it is launching a partnership with media giant, Thomson Reuters (TR). eFXplus, one of eFXData’s Fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term products, announced on Tuesday that it will now be able to derive data from TR’s International Financing Review Markets (IFR Markets) service.

eFXplus is the main product that eFXData offers. The Boston-based start-up provides a constant stream of price-based FX data for both individual investors and large companies, including FX brokers.

Commenting on the move to partner with TR, Mark Melhorn, eFXData’s Managing Director, said: "Our new partnership with TR not only solidifies the consistency and depth of eFXplus' derived data, but also expands our data service to a wider array of users and investors.”

Same program, new information sources

TR’s IFR Markets commentary will be familiar to those in the FX industry. Similar to eFXData, the service provides real-time commentary and analysis on rates, credit, and FX, 24-hours a day.

TR has supported eFXData’s efforts to develop solutions that can tap into its IFR Markets service. It has done this by providing the Startup Startup A company operating within its first stage of investing is known as a startup. While startups may give the impression that the company must be new, that is not always the case.Many companies can have this designation after nearly three years of existence. Typically, a company exits the startup status after a period between 3 to 5 years or after successful funding rounds where capital is acquired. Startups tend to derive out of the belief that there is a demand for a service or product which is c A company operating within its first stage of investing is known as a startup. While startups may give the impression that the company must be new, that is not always the case.Many companies can have this designation after nearly three years of existence. Typically, a company exits the startup status after a period between 3 to 5 years or after successful funding rounds where capital is acquired. Startups tend to derive out of the belief that there is a demand for a service or product which is c Read this Term access to IFR Market’s data application programming interface (API).

eFXData has developed a program, which fits with this API, that can ‘read’ the data put out by IFR Markets and attach it to the existing data that the company gathers from other sources.

The gathering of technical-tactical data from TR will mark a change for eFXData. The firm has traditionally gathered institutional derived data of systemized orders, insights, forecasts, and quant models.