New York
13 January 2017
Reporter: Drew Nicol

Tradition to boost data reach through NEX Data


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.”

More data services news
The latest news from Asset Servicing Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
SmartStream upgrades TLM solutions platform
16 October 2017 | London | Reporter: Theo Andrew
A new feature, TLM View allows customers to access to real-time and historic data in the reconciliation repository in order to identify trends on one single, customisable interface
Scorpeo reveals new TCA application
12 October 2017 | London | Reporter: Barney Dixon
Scorpeo has launched its new TCA application that will help investment managers identify missed value in their portfolios
Swift releases data validation service
05 October 2017 | Barcelona | Reporter: Jenna Lomax
The service assesses the quality of the bank reference data stored in a corporate’s database, which is typically used to facilitate payments
US equity data made more accessible to UK firms
23 August 2017 | London | Reporter: Stephanie Palmer
Nasdaq is to offer market data on proprietary US equity feeds via the Equinox London International Business Exchange data centre, LD4
SIX launches new regulatory data and document exchange platform
18 July 2017 | Zurich | Reporter: Barney Dixon
SIX Financial Information has launched a new platform allowing for more efficient electronic exchange of regulatory data between wealth managers, asset managers and banks
T7 goes live at Irish Stock Exchange
18 July 2017 | Leinster | Reporter: Barney Dixon
The Irish Stock Exchange has migrated to Deutsche Börse’s new T7 trading platform, which aims to enhance the performance of ISE’s equity marketing offering
Broadridge makes data intelligence acquisition
11 July 2017 | London | Reporter: Stephanie Palmer
Broadridge is expanding its data and analytics solution with the acquisition of Spence Johnson, a provider of institutional data and intelligence to the asset management industry
More data services news