TraditionDATA Partners with Numerix to Expand FX Data Coverage

The market data and information services unit of interdealer broker Tradition, TraditionDATA, announced this Monday that it has partnered with Numerix to improve the quality, depth and breadth of its foreign exchange (forex) market data packages.

Numerix is a provider of technology solutions and real-time intelligence capabilities for trading and Risk Management Risk Management One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, Read this Term. TraditionDATA has partnered with the company to create derived data for more than 130 volatility surfaces across 130+ currency pairs.

Under the agreement, clients of the interdealer broker can now access information across a range of forex products such as spot data from the ParFX Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term, as well as forwards, swaps and non-deliverable forward (NDF) data.

TraditionDATA information available through INTEGRATE

According to the statement released today, users can directly access the data from Tradition’s in-house market data distribution platform INTEGRATE, as well as Bloomberg’s Market Data Feed (B-PIPE) and through a number of Numerix applications and products.

Commenting on the partnership, Scott Fitzpatrick, Global Head of TraditionDATA, said: “We are always looking to increase our product range and improve the quality and quantity of the data we provide to clients."

“Numerix was the ideal partner for this initiative; they have cutting-edge technology and analytics capabilities, and are recognized and renowned across the industry for their advanced modelling and coverage of OTC derivatives, including the most complex exotic products. This partnership gives our clients access to accurate and comprehensive coverage of the FX spot and derivatives markets globally.”

As Finance Magnates reported, back in June, Tradition rebranded its newly minted division TraditionDATA, which focuses on delivering tailored solutions to different types of customers.

TraditionDATA offers its clients packages. These packages are tailored to meet customer demand based on individual requirements. The company aims to ensure that its clients only pay for the specific data they need. The approach is in stark contrast to the majority of data vendors in the industry, which are frequently offering expensive data packages.

“We are proud to be the analytics partner to help TraditionDATA provide the data needed to support its clients. Its flexible model is shaking up the status quo in terms of data consumption, and avoids the complex process of unbundling, analyzing and extracting valuable data points,” added Steve O’Hanlon, CEO of Numerix.

“To build on this, it’s been our focus to ensure the volatility surfaces we provide meet the market need and the service is operationally robust. We look forward to building on our collaboration with TraditionDATA going forward.”