SuperDerivatives Challenges Data Feeds with Launch of Low Cost Alternative - DGX Direct
by
Adil Siddiqui
SuperDerivatives' commitment to providing market participants with low-cost, robust solutions continues as the firm launches DGX Direct. The new add-on to the core DGX will provide real-time data feeds.
SuperDerivatives, a provider of real-time market data, derivatives technology and valuation services using cloud-based technology for the financial and commodity markets, has reported that it has launched its low-cost alternative data feed solution for financial trading firms, DGX Direct. SuperDerivatives continues its campaign to provide robust alternative solutions challenging major market data and data feed providers, the DGX terminal costs $1,500 a year.
The firm, which was one of the first providers of data services on the internet since the year 2000, has been extending its core solutions to cover a wide range of asset classes on different trading and data terminals. The latest product launch highlights the firm's commitment to meeting the needs of firms that are price sensitive.
DGX Direct will stream real-time, snapshot and end-of-day data for all cash and derivatives instruments in all markets, including all curves (forwards, interest rates, OIS, inflation, credit, dividends) and Volatility surfaces across all asset classes and traded maturities.
The new service will stream data to customers via an API delivery mechanism – and allows an organisation to subscribe to a direct feed of any subset of data from DGX, SuperDerivatives’ market data, news, analysis and chat platform.
Dr. Yuval Levy, CTO at SuperDerivatives spoke about the new launch in a statement, saying: “The technology behind DGX is scalable and sophisticated, utilising a number of tools to ensure very low latency. Over the past year we have experienced sizeable demand from our customers for a direct data stream, and we have responded with DGX Direct.
“SuperDerivatives is the first vendor in the market to offer a real-time volatility surface feed, and we expect to see significant uptake of this and the other feeds across all asset classes due to our cloud-based technology, which discards the need for fixed terminals, installed hardware and expensive upgrades. Our firm belief is that cost should not be a prohibitive factor for professionals requiring accurate, independent market data.”
DGX Direct is a data specific element to SuperDerivatives' DGX product. The firm launched DGX in December 2012, and in its first month of launch was overwhelmed with 23,000 users. A company spokesperson informed Forex Magnates that the number of users has continued to exceed the firms expectations, and the number of users registered since the January launch spans the buy-and sell-side banks, funds and corporates, with approximately 50% in Europe, 20% in the Americas and 30% across Asia.
SuperDerivatives found that participants in the financial markets space were more cost savvy after the 2008 crisis and the need for a scalable, economical and product centric solution was required. By using cloud-based technology SuperDerivatives is able to deploy a cost effective solution. The company spokesperson commented in a statement to Forex Magnates: “Since the financial crisis of 2008, institutions have had to adapt to a more cost effective environment, creating a universal recognition amongst market participants for the need for cost-effective and scalable solutions. This provided a catalyst for greater adoption of cloud-based technology as firms looked to achieve greater return on investment in a tough operating environment."
DGX app store uses the open developing concept whereby third-party developers can create add-ons and plugins to the existing framework, a concept that is popular in the retail FX market with tradable and X Open Hub.
DGX data coverage includes:
800,000 bonds (sovereigns, agencies and supra-nationals, corporates, euro bonds, MBS, ABS)
50,000 stocks, indices and ETFs
4,000 CDS curves
500 energy products (power and gas, oil, oil products, emission)
All metals, 250 agriculture products and wet and dry freight
All interest rates (all yield curves including OIS, implied correlations, basis spreads, inflation, BMA)
Major and emerging market currencies
SuperDerivatives was one of the last venues who applied for SEF status before the October 2nd deadline.
The firm has been involved in the FX Options space, in addition to the SEF application, it launched a proprietary FX Options product in collaboration with leading FX broker FXCM.
SuperDerivatives, a provider of real-time market data, derivatives technology and valuation services using cloud-based technology for the financial and commodity markets, has reported that it has launched its low-cost alternative data feed solution for financial trading firms, DGX Direct. SuperDerivatives continues its campaign to provide robust alternative solutions challenging major market data and data feed providers, the DGX terminal costs $1,500 a year.
The firm, which was one of the first providers of data services on the internet since the year 2000, has been extending its core solutions to cover a wide range of asset classes on different trading and data terminals. The latest product launch highlights the firm's commitment to meeting the needs of firms that are price sensitive.
DGX Direct will stream real-time, snapshot and end-of-day data for all cash and derivatives instruments in all markets, including all curves (forwards, interest rates, OIS, inflation, credit, dividends) and Volatility surfaces across all asset classes and traded maturities.
The new service will stream data to customers via an API delivery mechanism – and allows an organisation to subscribe to a direct feed of any subset of data from DGX, SuperDerivatives’ market data, news, analysis and chat platform.
Dr. Yuval Levy, CTO at SuperDerivatives spoke about the new launch in a statement, saying: “The technology behind DGX is scalable and sophisticated, utilising a number of tools to ensure very low latency. Over the past year we have experienced sizeable demand from our customers for a direct data stream, and we have responded with DGX Direct.
“SuperDerivatives is the first vendor in the market to offer a real-time volatility surface feed, and we expect to see significant uptake of this and the other feeds across all asset classes due to our cloud-based technology, which discards the need for fixed terminals, installed hardware and expensive upgrades. Our firm belief is that cost should not be a prohibitive factor for professionals requiring accurate, independent market data.”
DGX Direct is a data specific element to SuperDerivatives' DGX product. The firm launched DGX in December 2012, and in its first month of launch was overwhelmed with 23,000 users. A company spokesperson informed Forex Magnates that the number of users has continued to exceed the firms expectations, and the number of users registered since the January launch spans the buy-and sell-side banks, funds and corporates, with approximately 50% in Europe, 20% in the Americas and 30% across Asia.
SuperDerivatives found that participants in the financial markets space were more cost savvy after the 2008 crisis and the need for a scalable, economical and product centric solution was required. By using cloud-based technology SuperDerivatives is able to deploy a cost effective solution. The company spokesperson commented in a statement to Forex Magnates: “Since the financial crisis of 2008, institutions have had to adapt to a more cost effective environment, creating a universal recognition amongst market participants for the need for cost-effective and scalable solutions. This provided a catalyst for greater adoption of cloud-based technology as firms looked to achieve greater return on investment in a tough operating environment."
DGX app store uses the open developing concept whereby third-party developers can create add-ons and plugins to the existing framework, a concept that is popular in the retail FX market with tradable and X Open Hub.
DGX data coverage includes:
800,000 bonds (sovereigns, agencies and supra-nationals, corporates, euro bonds, MBS, ABS)
50,000 stocks, indices and ETFs
4,000 CDS curves
500 energy products (power and gas, oil, oil products, emission)
All metals, 250 agriculture products and wet and dry freight
All interest rates (all yield curves including OIS, implied correlations, basis spreads, inflation, BMA)
Major and emerging market currencies
SuperDerivatives was one of the last venues who applied for SEF status before the October 2nd deadline.
The firm has been involved in the FX Options space, in addition to the SEF application, it launched a proprietary FX Options product in collaboration with leading FX broker FXCM.
Institutional FX Demand Continues to Climb in April
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
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Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
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The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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