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 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 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.