Tradition to boost data reach through NEX Data
13 January 2017 New York
Image: Shutterstock
Global pricing data provider NEX Data is set to become a distributor of Tradition’s market data and information services division, TraditionDATA.
The data will include real-time and end-of-day prices sourced directly from Tradition’s global electronic, hybrid and voice broking operations in all asset classes.
It also covers data from Trad-X, Tradition’s electronic trading platform for over-the-counter (OTC) derivatives, and Tradition Asia, the inter-dealer 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, added: “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.”
The data will include real-time and end-of-day prices sourced directly from Tradition’s global electronic, hybrid and voice broking operations in all asset classes.
It also covers data from Trad-X, Tradition’s electronic trading platform for over-the-counter (OTC) derivatives, and Tradition Asia, the inter-dealer 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, added: “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.”
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