Quanthouse Adds FastMatch FX Tape to its API Ecosystem

QuantHouse has just announced the addition of Euronext’s FastMatch FX Tape product to its client base. The aggregated central market data feed for foreign exchange is becoming available via the company’s API.

The FX Tape product is aggregating data from multiple external contributors in addition to the Fastmatch ECN. The reliability of the data is securing a reliable and accurate representation of the broader market for benchmarking best Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term, market surveillance, compliance applications, and other uses.

“The FX Tape is a unique offering in the market which will continue to grow as additional contributors join with differentiated data which enhances the value of the product,” Kevin Wolf, the CEO of FastMatch, commented to Finance Magnates.

Wolf also elaborated that the bulk of interest for access to FX Tape is coming from institutional users. The company shared that the pricing of the product is in line with other institutional market data offerings.

To date, Euronext’s FastMatch FX Tape is leading the way in delivering to the market a consolidated dataset of foreign exchange quotes combining a multitude of sources. The product’s availability in the market, not only makes pre- and post-trade benchmarking possible, but also delivers a reference point for executed trades in the spot FX market.

QuantHouse is adding FX Tape to its QuantFeed product which is normalizing and disseminating market data from over 140 feeds.

With over 300 Buy-Side Buy-Side The buy-side is comprised of firms in the financial industry that purchase securities and are accompanied by account investment managers, pension funds, and hedge funds.The buy-side is composed of those that buy and invest large sums of securities with the intention of generating a lucrative return or have their funds managed. The Buy-Side ExplainedIn terms of Wall Street, the buy-side includes investment institutions that purchase securities, stocks, or other financial instruments with the aim The buy-side is comprised of firms in the financial industry that purchase securities and are accompanied by account investment managers, pension funds, and hedge funds.The buy-side is composed of those that buy and invest large sums of securities with the intention of generating a lucrative return or have their funds managed. The Buy-Side ExplainedIn terms of Wall Street, the buy-side includes investment institutions that purchase securities, stocks, or other financial instruments with the aim Read this Term firms and investment banks connected to the QuantHouse API Ecosystem, the addition of FastMatch’s product to the ecosystem opens new market opportunities.

Commenting on the launch, the CEO and Co-founder of QuantHouse, Pierre Feligioni, said: “Whether you sit on the buy-side or sell-side, anyone who trades FX will benefit from being able to access the FastMatch FX tape. We commend FastMatch for looking to create the first consolidated tape for the FX market and are delighted to be able to help expand their reach through our API global community of users.”

As Wolf explains, the company’s product recently got attention from several Central Banks in the aftermath of the January 2019 USDJPY flash crash. Having a reliable source to match data is validating the value of having an independent reference point in the market.

“We anticipate that QuantHouse will act as a complementary channel for those wishing to access the FX Tape in addition to our suite of Spot FX Market Data products,” elaborated Wolf.

Last year FastMatch added Bitcoin data to its product, while BestX added the service for its customers as an additional benchmark.