NEX Data and Tradition agree global data distribution partnership
12 January 2017
London, 12 January 2017 – NEX Data, a NEX Group business which delivers global pricing data and information solutions, and Tradition, one of the world’s largest interdealer brokers in over-the-counter commodity and financial products, announce today that they have agreed a distribution partnership.
NEX Data will become a key distributor for Tradition’s market data and information services division, TraditionDATA. The agreement includes real-time and end-of-day prices sourced directly from Tradition’s global electronic, hybrid and voice broking operations in all asset classes to include: interest rate derivatives, money markets, energy and commodities and fixed income products. It also covers data from Trad-X, Tradition’s market leading electronic trading platform for OTC derivatives, and Tradition Asia, the interdealer broker’s Japanese and pan-Asian division.
Kevin Taylor, Managing Director of NEX Data, said: “In the current era of regulatory change, the need for accurate and reliable trade-backed data continues to grow as it provides greater transparency of financial markets. This is particularly true of OTC derivatives which are traditionally transacted over the phone via voice brokers and feature a number of hard-to-price, less liquid assets than those traded electronically.
“By acting as a distributor to Tradition, which offers complementary data services to NEX Data, we are able to expand our multi-asset class and Asian market coverage and develop new services in pricing, analytics and indices. This will help our clients conduct pre-trade analysis, aid price discovery, inform investment decisions and manage risk.”
Dan Marcus, Global Head of Strategy and Business Development at Tradition, said: “Tradition has a long history of arranging, managing and executing across a range of liquid and illiquid financial products, instruments and asset classes globally. Our decades of expertise and brokerage experience has allowed us to build up a rich database of historic data and trading activity. This offers a crucial independent pricing source for market participants seeking to source liquidity and accurately price and manage risk.
“Our partnership with NEX Data will be mutually beneficial; it will substantially expand the reach and distribution of our respective complimentary market data and information services and enable our clients to benefit from a wider set of data sources.”
NEX Data A NEX Group business, NEX Data operates within NEX Optimisation which helps clients simplify complexity and optimise resources. We are a market intelligence & price information service delivering independent OTC data for real-time, end-of-day and historical products. Our data covers the transaction lifecycle and allows clients to execute efficiently. There are over 400 million updates per day and constant advances in our product sophistication. We provide the intelligence behind algorithmic trading, research models, risk and compliance applications, and portfolio pricing and management.
For more information, go to www.nexdata.com
NEX Group NEX Group plc offers customers better ways to execute trades and manage risk. Our products and services underpin the entire trade lifecycle pre-, during and post-execution. Our electronic trading platforms are industry standards. Customers use our lifecycle management and information services to optimise portfolios, control risk and reduce costs. We partner with emerging technology companies to bring greater efficiency, transparency and scale to the world’s capital markets. NEX is headquartered in London with offices worldwide. For more information, please visit www.nex.com
NEX. Empowering markets.
TraditionDATA TraditionDATA is the market data and information services division of Tradition, and provides real-time, end-of-day and historical data in many of the world’s fastest moving markets, including hard-to-find prices in developing products and regions.
To meet increased demand for end-of-day settlement and pricing, TraditionDATA has developed a suite of integrated valuation products. Daily and intra-day snapshots offer OTC price fixings from today and from previous days’ trading. All data is sourced directly from broker screens, and incorporates historical data with research, analysis and commentary.
Tradition Tradition is one of the world's largest wholesale market brokers in over-the-counter financial and commodity related products. Represented in 28 countries, Tradition employs 2,400 people globally. Tradition is the trading name of Compagnie Financière Tradition (CFT), which is listed on the Swiss stock exchange. Tradition's activities are overseen by global regulators including the FCA, SEC and CFTC. For more information, please visit www.tradition.com.